Stock Exchange of Thailand ready for Digital Transformation

Published by: Pakorn Peetathawatchai, President, Stock Exchange of Thailand (SET) Apr 2019

In March 2019, the Stock Exchange of Thailand (SET) announced that it will continue to collaborate with all stakeholders to digitise the capital market infrastructure to transform customer experience and build the digital asset platform, which is expected to be rolled out in 2020.

In 2019, the Thai capital market will experience a real transformation into the digital age in two areas. The first area is a complete digitisation of the capital market infrastructure covering such enhancements such as the paperless account opening process through electronic identification verification, electronic payment of stamp duty and direct-debit registration processes. In addition, SET's FundConnext mutual fund platform, which is currently connected with 19 asset management firms in Thailand, will be linked with Vestima, a global fund processing platform operated by Clearstream. FundConnext will connect the Thai investment fund market to global investors by serving as a gateway for investors in 56 countries to capture investment opportunities. This year, the capital market’s new payment service, which was introduced in 2018, will be enhanced to process interbank payment, making it more effective operationally and financially for securities firms. These services will be rolled out in Q3/2019.

The second area will see SET work very closely and collectively with all stakeholders in the Thai capital market to build a new ecosystem for the Thai capital market. The new ecosystem to support digital assets will create new opportunities and transform the investment landscape in the future.

When asked about the importance of digital transformation, SET President Pakorn Peetathawatchai commented: “SET’s three-year strategic plan, covering the period from 2019-2021, will focus on the development of a digital infrastructure platform, building a one-stop digital capital market, opening new investment opportunities and levelling up investment experiences for more convenience and higher speed. This will strengthen the ‘SET…Make it Work for Everyone’ vision.

“SET strongly believes that the collaboration with all stakeholders in enhancing the existing infrastructures that are a backbone of the current ecosystem and in building the new digital asset ecosystem will be a turning point that will take the Thai capital market to the next level.  SET stands ready to build and operate the capital market that is underpinned by trust.”