Source: Stock Exchange of Thailand
The Stock Exchange of Thailand (SET) announces the target implementation date for the two-day settlement cycle (T+2) on March 2, 2018.
SET President Kesara Manchusree said, “The target date to move toward T+2 settlement cycle, from the current T+3, has been extensively consulted with all stakeholders namely The Securities and Exchange Commission (SEC), Bank of Thailand, security firms, custodians, asset management firms and banks, considering their preparation and system readiness. From now, all parties will work closely together in changing the related operational process and system development in conjunction with amendment of related rules and regulations in order to ensure smooth transition.”
“We are certain that moving toward T+2 will benefit all stakeholders, not only in reducing the risks and costs but also in making it more convenient for cross-border portfolio investment. This change will keep SET aligned with the leading settlement practices in markets around the world, while enhancing the Thai capital market’s competitive edge,” added Kesara.