The SET President, Mr. Kittiratt Na-Ranong, revealed that the SET Board of Governors had approved for the SET to undertake an integrated post-trade system development project in order to enhance the capacity and efficiency of the back-office services of Thailand Securities Depository Co., Ltd. (TSD). This will help to support new business requirements, new investment instruments as well as the derivatives market and the agricultural futures exchange in a more efficient and timely manner. The Board approved a budget of 180 million baht for investing in the required hardware and software systems. This newly developed post-trade system will be operational in the third quarter of 2004.
"The Integrated Post-Trade System is a centralized system linked to all members and can support transactions in an integrated market. It is a full-scale and comprehensive straight-through-processing system, enhancing efficiency while reducing risks in clearing and settlements as it uses the delivery-versus-payment principle. Moreover, the system will also be efficient enough in connecting the payment system to be in line with international standards, such as enabling it to link to both domestic and foreign financial institutions," Mr. Kittiratt said.
As Mr. Kittiratt went on: "The Board also appointed the present governor appointed by the member companies, Mr. Suthep Peetakanont, to be the Vice Chairman of the SET, a member of the SET's executive committee, and the remuneration committee as well."
Mr. Suthep Peetakanont became a member of the SET Board on May 28, 2001, and his term has been renewed for another two years in the Annual Meeting of the SET members on April 28, 2003. Thus his term in office will continue until May 27, 2005. Presently he is the Managing Director of Capital Nomura Securities Public Co., Ltd. and the chairman of the Association of Securities Companies.
