Source: Stock Exchange of Thailand
The Stock Exchange of Thailand (SET) stated that the automated transfer system (ATS) will be available for all retail investors from April 1, 2007.
Investors using cash accounts will be able to pay for securities or receive cash from sales through their bank accounts, making clearing and settlement transactions far more efficient.
As well as providing greater convenience for retail investors, ATS will eliminate the costs involved in check issuance and commuting to banks. Applying for ATS will incur no additional cost to investors, as transfer expenses will be absorbed by securities firms.
"The scheme moves us closer to having an electronic clearing system which saves time and money. ATS will improve the reliability of the industry overall by reducing potential default risk, and eliminate unnecessary procedures and costs for brokers," SET President Ms. Patareeya Benjapolchai stated.
Investors can rest assured that the system is secure, as every transaction will require their confirmation before activation, and can be monitored by them when they update their bankbooks.