SET strengthens its market position

By Cinnober - 2013.06.17


The Stock Exchange of Thailand (SET) is strengthening its market position in Asia, having recently passed the Singaporean Exchange with about a 35% higher trading volume. This is an impressive pole-position regarding volumes, and the bourse is now aiming to do the same for market capitalization as well. 

In a statement to the Bangkok Post, SET president Charamporn Jotikasthira said that they seek to increase market capitalization to US $700 billion in the next three years — from a current level of $500 billion — to overtake the Singaporean bourse as Southeast Asia's largest market.

Last year SET began implementing new trading infrastructure as part of a partnership with leading Swedish supplier Cinnober Financial Technology. The equity part of the replacement project went live last fall and the derivatives functionality is under construction, on track to go into operation in 2014.

“This is impressive news on volumes and we’re proud to be a partner to SET as they reach new records,” says Cinnober’s CEO Veronica Augustsson. “The Thai bourse has ambitious business plans, and now shows a significant increase in volumes with the new trading platform. Having the right technology and using international standards can be game changers in boosting business on a national marketplace.”

Cinnober delivered a new trading system to the Thai bourse last year called SET Connect, which is based on the high-performance TRADExpress Trading System. Other core systems delivered cover market data dissemination, market surveillance and index calculations. 

SET, established in 1975, is already connected to Bursa Malaysia and Singapore Exchange through the ASEAN Trading Link. SET's market capitalization is similar to the Malaysian stock exchange but smaller than Singapore’s and Taiwan's, each of which is closer to $700 billion. Despite a smaller market capitalization, SET has passed its Singaporean counterpart for highest average trading volume in Asean at 50-60 billion baht, about 35% higher than Singapore’s.

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