Monday November 11 2019
News Source: Global Exchanges
Focus: Trading Systems and Technology
On 11th November 2019, the Stock Exchange of Thailand (SET) announced that it will scale up its capital market payment service by allowing securities trading payment between accounts at different banks from November 11.
The new service will mitigate risks in the payment system and improve the efficiency of the process between the capital market and commercial banks, while aligning with the government’s National e-Payment Roadmap. Moreover, investors can enjoy ease of use by choosing their existing bank accounts for the service.
The interbank payment system, launched by SET subsidiary FinNet Innovation Network Co., Ltd., will provide greater convenience for investors. It will also alleviate the cash management burden of intermediary institutions and mitigates payment risks in the banking system, underlining the SET’s vision “To Make the Capital Market ‘Work’ for everyone.
The new system was made possible through collaboration between the Ministry of Finance, the Bank of Thailand, the Securities and Exchange Commission, securities companies, commercial banks, the Association of Securities Companies, the Thai Bankers’ Association, the Association of Investment Management Companies and the Custodian Club.
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