Stock Exchange of Thailand new trading engine goes live

Source: Stock Exchange of Thailand

The Stock Exchange of Thailand (SET) announced the successful launch of its new trading platform, SET Connect, today for the equities markets, operating smoothly throughout the day, while two other new systems - Market Data System and Market Surveillance System - also ran with full efficiency.

The launch highlights SET's commitment to match the right financial opportunities for investors and businesses.

SET CONNECT offers greater capacity and superior transaction speed, and provides the uses of industry standard interfaces, making it easier to accommodate linkage with other marketplaces to attract further liquidity.

SET President Charamporn Jotikasthira, said: "Today marked another key milestone in the development of the Thai capital market, as now that we began operating our new trading engine, SET CONNECT, with full efficiency. The new system was able to match orders with higher speed. Moreover, both domestic and foreign market data vendors could get information completely and seamlessly from the Market Data System, while the Market Surveillance System also worked efficiently throughout the day."

Cinnober Financial Technology AB's CEO Javier Tordable, said: "Given its scope and unprecedented time to market, this comprehensive replacement project with SET is impressive. Thanks to a great cooperation between Cinnober and SET, it has been very successful. SET is now taking a lead in the region with its ambitious IT Master Plan and we're proud to be their partner on this exciting journey. This is a major step forward and we're looking forward to the fuller unveiling of functionality in phase two of the project, when derivatives will be traded on the same platform."

Association of Thai Securities Companies's Chairperson Pattera Dilokrungthirapop, said: "The new trading platform operated successfully on its first day, as all brokers could trade via SET CONNECT smoothly and flexibly. SET's new system could response trading orders much faster than the previous system and is able to cover market and brokers' business expansions in the future, as well as to accommodate new financial products and multi currency trading more flexibly. Using the FIX protocol, it is able to connect with other stock exchanges more conveniently and efficiently." 

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