.jpg)
Thailand Futures Exchange PCL (TFEX) welcomes nine new members who will start trading on September 22. The exchange also reschedules its new products launches-single stock futures in November 2008 and gold futures in early 2009.
The new brokerage members include Adkinson Securities PCL, Aira Securities PCL, BFIT Securities PCL, Far East Securities Co., Ltd., Finansa Securities Co., Ltd., Globlex Securities Co.,Ltd., I V Global Securities PCL, Kasikorn Securities PCL, and United Securities PCL. These new members will bring the total number of TFEX brokers to 36," TFEX Managing Director Kesara Manchusree said.
We have been working hard with our members on introducing the single stock futures and will do the system test with our members in early October. The contract specification of the single stock futures including related rules and regulations are in the filing process to get the approval from the Securities and Exchange Commission (SEC). At this stage, our first five underlying stocks are selected by its market capitalization, liquidity, and price volatility. The stock futures is an alternative tool for all investors - institutional or retail, to help enhance their trading strategies and portfolio in any market situations," Ms. Kesara added.
The launch of gold futures is now postponed to allow the gold traders more time to study the requirements including related rules and regulations for participating in gold futures business; either through TFEX members as introducing / selling agents or by becoming brokers with restricted license, which is limited to gold-related products, themselves.
TFEX, SEC and FI Club have consulted at length with the Gold Traders Association of Thailand to offer the proper alternatives for the gold traders to enter into this business. Together with full supports from all related parties, we expect that the qualified candidates could start gold futures trading in early 2009," Ms. Kesara concluded.
