Thai Clearing House accepts applications for new settlement banks

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Thai Clearing House accepts applications for new settlement banks

The Thailand Clearing House Co., Ltd. (TCH), under The Stock Exchange of Thailand (SET) group, announces that it is accepting applications for two new settlement banks to jointly expand the business and strengthen clearing and settling of securities in the Thai capital market in order to boost choices for clearing house members.

SET Senior Vice President and Head, Market Operation Division, Chanisa Chutipat, said that TCH was seeking two settlement banks to be intermediaries for clearing securities between broker members and TCH, one each for the securities and derivatives markets, on top of the current four for securities clearing and two for derivatives clearing.

“We are accepting applications for commercial banks with financial strength and modern technology which are ready to serve clearing house members effectively with a full range of services. We hope the new settlement banks can meet the various demands of the current 37 securities clearing members and 41 derivatives members and could inspire the existing settlement banks to improve their effectiveness, quality of service, and competitiveness. This underlines SET’s commitment to match the right financial opportunities for investors and business,” Chanisa said.

Commercial banks are invited to apply to the Post-trade Development Department from now until end-May 2013, visit www.thaiclearing.com, or call 0 2229-2882.