Stock Exchange of Thailand preps new trading system

Source: Stock Exchange of Thailand

The Stock Exchange of Thailand (SET) announces that the bourse has completely developed its new securities trading system, called SET Connect, which is ready to be deployed on September 3.

With greater capacity than the current system and high efficiency comparable to global leading stock exchanges, SET CONNECT is able to support its domestic and international new financial product launches and upgrade the Thai capital market to meet international standards, while enabling global connectivity.

SET CONNECT, developed in accordance with SET's IT Master Plan, is ready to be deployed after completing several tests and working closely for a year with 32 broker members, independent software vendors (ISV), and market data vendors, together with Cinnober Financial Technology AB, the SET CONNECT developer, said SET President Charamporn Jotikasthira.

"In addition to SET CONNECT, Thai bourse will also start operating its new market data system, integrating directly with the new trading engine. The new market data system will be more efficient in disseminating trading information to systems of members and information services providers with fairness and transparency. SET has also developed its market surveillance system to comply with international standard. This system is able to instantly and proactively monitor and detect anomaly with high effectiveness, boosting our reliability and minimizing possible risks. All three new systems will boost the Thai capital market's competitiveness which is our crucial step to provide trading services with cutting-edge technology, making it one of the world's most efficient trading engines. This is a result of the mixture of innovation and world-class standard technology of Cinnober Financial Technology AB, the leading trading system developer for the world's top stock exchanges," Charamporn said.

SET CONNECT, offering faster-than-ever platform with global standard features, is able to cover market and business expansions in the future both in terms of trading volume and valation, while being flexible enough to accommodate new financial products and multi-currency trading. Using the FIX protocol, itt is able to connect and operate with other stock exchanges conveniently.

"With such outstanding features, SET CONNECT will enhance the confidence of global investors in the potential of the Thai capital market, propelling the market onto the international stage and making the most of all opportunities for investors, as well as matching the right financial opportunities for market participants," Charamporn said.
SET has already amended trading regulations to comply with the standards of global leading stock exchanges; the new rules will be launched simultaneously with SET CONNECT. 

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