Thai securities depository to introduce e-IPO service

Source: Thailand Securities Depository Co., Ltd

Thailand Securities Depository Co., Ltd celebrates its 10th year anniversary with planned introduction of e-IPO for brokers to accommodate new IPOs from more than 100 companies plan to list on both the Stock Exchange of Thailand and the Market for Alternative Investment. New service is believed to be available for securities companies and brokerage firms in February 2005.

Mrs. Nongram Wongwanich, President of Thailand Securities Depository Co., Ltd. (TSD), revealed that, in 2005, TSD will hit its 10th year mark of its operation. TSD plans to further develop its after-sale services to make stock trade system more complete, and to be able to promptly provide service while reaching international standard. It will introduce an electronic subscription service for Initial Public Offering (IPO) shares, called e-IPO, as well as Securities Borrowing and Lending service or (SBL).

"New services will be introduced for TSD’s 10th year anniversary in 2005 are electronic IPO share subscription or e-IPO of securities companies, the system that will make share subscription more standardized and faster. This is because SET expects the year 2005 to see around 100 listed companies to perform their initial share offerings. It also expects e-IPO to come into operation in February for securities or brokerage companies. Moreover, for the public, TSD plans to develop new system to enable them to subscribe shares electronically through e-IPO on the Internet as well as to directly debit the payment from their accounts on-line (E-Payment).

e-IPO is a system that has been developed with Web Based Application and can accommodate heavy and simultaneous hits more efficiently.

Moreover, this is the system that will handle various types of share subscriptions while helping reduce error from such action because of its reliable verification system and Real Time follow-up service. More importantly, it will help cut the cost of securities companies because TSD will invest in the system for all brokers," said Mrs. Nongram.

In addition, TSD also prepares to launch the Securities Borrowing and Lending service (SBL) for member companies, in order to help cut their costs and make them more interested in SBL, the situation in which it is believed will help make investors have more efficient tools for their investment management. This service is expected to become available in the 2nd quarter of 2005.

Mrs. Nongram added "Apart from new services, TSD also plans to offer one-stop after-sale service for stock trade, both for bonds, debt instruments and derivatives, through advance technology and system that can respond to users’ demand and allow them to efficiently and quickly proceed their transactions, whether they be the issuers, TSD members or the investor. This will be with high-standard security system for the data, the system that has complied with TSD’s path of action during the past 10 years".

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