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The Managing Director of TFEX, Mrs. Kesara Manchusree, said that after TFEX announced it would accept up to 15 members as pioneer futures brokers, there were more than 20 Thai and foreign brokers stating their intention to join, which was higher than targeted.
“We are happy to see that the brokerage firms have shown such a strong interest. Their good response may also reflect investors’ demand, because they deal closely with their investors. Some brokers told us that they’ve been studying about our first product--SET50 Index Futures-- for some time and are confident that investors will be interested in this product. They believe that the top 20% of their regular investors will be especially interested” Mrs. Kesara said.
To clarify the membership process, TFEX, in conjunction with the Securities and Exchange Commission (SEC), will hold a forum on May 31, 2005 so that those interested in applying for futures broker licenses may have their questions answered. The forum will also be for TFEX and the clearinghouse members. TFEX has already held similar sessions in February and March 2005.
People wishing to become futures brokers must first get a license from the SEC for this purpose, and may simultaneously apply for their TFEX and clearinghouse memberships. Interested applicants must submit their applications to these 3 organizations, along with all required documents, by June 30, 2005.
For more information about TFEX and clearinghouse memberships, please browse www.tfex.or.th and www.tsd.co.th
