TFEX’s Board of Directors has reviewed the facilities and recommended that its inauguration should proceed on schedule, its managing director, Ms. Kesara Manchusree, disclosed.
“The board is confident in the working systems of TFEX and the clearing house. TFEX has been testing the system internally and with the system developers for the past year. Testing for brokerage companies has been going on since January 2006, and the results have been very good. Although the official test period is over, TFEX will still allow brokers to test the system up to a week prior to the inauguration,” Ms. Kesara said.
Although the SET will be ready on time, some brokers may not be able to receive trading orders, as they may be adjusting details of their systems. However, within end-June, all 20 brokers should have their systems ready.
Before commencing operations, TFEX, the clearing house and TFEX members, are awaiting the results of the system review by the Securities and Exchange Commission (SEC) and for the SEC’s final approval. If either step is delayed, this could affect the launch date.
SEC sought to have certain taxes, e.g., capital gains and special business taxes, waived. Negotiations with the Revenue Department are now complete, and the waiver will soon be formally announced.
To help investors, TFEX has organized training, produced publications, and promoted information via a range of media, e.g., television, newspapers, radio and websites. Relevant documents concerning derivatives trading and the SET50 Index Futures can be downloaded free of charge from www.tfex.co.th