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The Stock Exchange of Thailand (SET)’s investor base expansion strategy in 2008 will focus on providing more convenient access for potential investors. The bourse will collaborate with brokers and banks to open 40 “cyber-“ or “mini-branches” in department stores and banks in 2008. A recent investor survey revealed that potential investors want ease-of-access and convenient locations for trading.
The study was undertaken by the Investor Research Program at the SET Research Institute, SET Senior Vice President Mr. Kengkla Ruckphaopunt said.
The survey revealed that about 30% of potential investors have bought financial products at banks because they perceive them to be trustworthy and receive assistance from their staff.
“The expansion of cyber-branches will advantage securities firms by providing them access to potential small investors. The cost of establishing a branch starts at about THB 400,000 and can provide account-opening and trading services, with or without staff assistance,” Mr. Kengkla said.
As of December 7, 2007, there were 27 cyber-branches in Thailand—10 in the Central region, eight in the South, four in the North, four in the Northeast and one in the East. Banks currently involved in cyber-branches are Krung Thai, Siam City, and Thanachart.
