The SET announced that its Board of Governors approved waiver of its fees for technical assistance granted to the AFET. (The SET provides its human resources and IT experience on trading systems and related application software to AFET.)
AFET has been operational since May 28, 2004, and needed assistance in developing its IT and educating various parties, e.g., agribusiness operators, farmers and investors. To establish an efficient AFET, as intended by the government, the SET provided technical assistance to AFET since the end of 2003, worth approximately THB14 million. The SET will consider granting this aid on an ongoing basis until May 2007.
A SET team of IT specialists helped AFET develop its systems until the market became operational, and later helped develop other supporting systems. The two organizations signed a memorandum of understanding on October 19, 2005, concerning the exchange of information, mutual cooperation in the education of various parties, and other aspects in the overall development of the futures and the Thai capital markets.
