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The Thailand Futures Exchange PCL (TFEX) has warned investors trading in gold futures to use only brokers authorized by the Thai Securities and Exchange Commission (SEC). The list of all 41 approved brokers is available on the SEC and TFEX websites.
TFEX Managing Director Kesara Manchusree expressed concern over news reports last weekend that a person has allegedly swindled clients by posing as an authorized broker for gold futures. She reaffirmed that all involved in the futures business must operate under the Futures Trading Act B.E. 2546, and all that operators, including the TFEX and securities companies acting as futures brokers, must be licensed by the SEC. Personnel of brokers who deal with investors must also be approved and registered with the SEC.
“TFEX rigorously and continually examine and ensures that all member companies are complying with work rules and regulations, and are financially strong. Currently the five products approved for trading on TFEX are SET50 Index Futures, SET50 Index Options, single stock futures, interest rate futures, and gold futures. To familiarize and educate people about futures, TFEX has been hosting seminars and other educational activities, so that investors can be well-equipped with the information needed for prudent investing,” said Ms. Kesara.
To trade in futures contracts, investors need to open an account with a securities company that is a TFEX member. Presently, TFEX has 41 members, 36 of which are authorized to trade any product listed on TFEX and another 5 authorized to trade gold futures alone. Information on all 41 approved brokers as well as on futures products, are available on the websites of SEC (www.sec.or.th) and TFEX (www.tfex.co.th) For more information, please contact the S-E-T Call Center at tel. 0-2229-2222.
