She said, “The BSB has been offering its back-office services for equity and debt instruments as well as unit trusts since August 2001. Providing a full range of services will help our member companies reduce costs by eliminating the need for these firms to conduct the processes and purchase and maintain the related systems on their own.”
Services provided by the BSB include the handling of any transactions concerning the activities of a securities depository, securities depositing and withdrawal, as well as rights and benefits. BSB services also include dealing with the depository accounts of brokers’ customers, e.g., charging of monthly and document issuance fees, issuing securities trading confirmation reports, monthly trading reports and/or statements, cheques and notification letters.
Mrs. Nongram said that: “In order to help the securities companies reduce their costs, improve the overall efficiency of the securities industry and attract securities firms which haven’t yet invested in their own systems to utilize the BSB’s services, our customers will be paying less for the issuing of their confirmation and monthly reports.
“For the securities monthly trading report, if the member companies have more than 2,000 accounts, they will save, on average, about 33% of their current fees.
“In the case of daily confirmation reports, sending reports to more than 1,000 accounts will bring our member companies a savings of about 9% on average.
“Reducing these fees will help reduce the costs of our member companies, especially those which require a large number of transactions as their cost per transaction will decrease. Consequently, the companies can focus on improving their own service quality for their customers,” Mrs. Nongram concluded.
