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In launching its three-year strategic plan, Thailand Securities Depository Co., Ltd. (TSD) announced developments which will meet the demands of the modern customer for accurate, fast, and efficient service. As well as strengthening corporate identity and building trust, its major efforts and resources will be dedicated to maximizing customer satisfaction and service quality.
The TSD Board of Directors resolved on September 25, 2006, to approve the company’s medium-term strategic plan for 2007 – 2009. The company will become “a valued partner in the capital market offering excellent services,” TSD President Ms. Sopawadee Lertmanaschai declared.
“This new vision will meet the service demands of today’s customers and the requirements of a developing Thai market,” Ms. Sopawadee added.
The strategic plan emphasizes three key areas: 1) Infrastructure and systems: To develop efficient, secure, and reliable systems supporting a wider variety of transactions, 2) New initiatives: To develop new work systems delivering innovative products which offer customers a wider choice and add value to TSD’s services, and 3) Corporate identity: To communicate clearly the role of TSD to stakeholders, raise the company’s public profile, and ensure the dedication of staff to the firm’s goals.
To achieve these strategic aims, TSD has formulated nine key business plans for 2007. These include: developing clearing and settlement systems for index options, exchange-traded funds (ETFs), and post-trade integration (PTI); improving the Back Office Service Bureau (BSB) system for the equity market, further developing its Fund Administration System @ TSD (FAST) for mutual funds, and expanding the marketing of its current e-Dividend and scriptless systems to increase participation.
TSD’s strategic plan for 2007 – 2009 includes:- Infrastructure and systems: Concentrating on IT, six system development sub-plans have been formulated: main services (e.g. securities registration, depository, clearing and settlement, BSB and mutual fund services), integrated investor accounts, general information system development to meet the demand for more comprehensive information and decision-making data, T+2 clearing and settlement period (scheduled by 2008), a payment hub, and a retail depositor system.
- New initiatives: There are six work systems sub-plans to support new products (e.g., index options, interest rate futures, securities borrowing and lending, private repo, and ETFs), cross-product transactions, a provident fund system providing more flexible choices for employees, a derivatives sub-brokers’ service to encourage them to join the Thailand Clearing House (TCH) (by 2007), an electronic voting channel, and a TSD information portal for securities issuers and holders, securities firms, and investment management firms (by 2008).
“TSD will continue providing back-office services to securities and investment management firms to reduce their system development and operational costs,” Ms. Sopawadee stated.
- Corporate identity: TSD will communicate its roles and responsibilities to relevant parties precisely and clearly. The company will undertake human resource development to ensure a skills-base which is flexible and can meet market demand. “This strategy will raise and clarify TSD’s role as an important player in the securities industry. The company will gain a reputation for efficient, accurate, and customer-centered services delivered by capable and intelligent staff,” Ms. Sopawadee concluded.
TSD is a subsidiary of The Stock Exchange of Thailand (SET). It is engaged in after-trade services, including securities depository, securities clearing and settlement, securities registration, fund registration, and a back office service bureau.
