The Stock Exchange of Thailand (SET) has successfully launched its new trading system, together with market data distribution and market surveillance systems, based on Nasdaq technology. All systems are running seamlessly and operating at full efficiency in line with international standards and best practice. This newly developed state-of-the-art solution will support increasing transaction volumes and a variety of innovative investment products, whilst further enhancing the trust and integrity of the market.

This implementation marks a significant milestone in the ongoing development of the modern Thai capital market, established to promote economic growth and stability, and to develop people’s standard of living. Today, SET has the highest liquidity among ASEAN exchanges, a position the exchange has held for more than 10 years. In 2022, capital raised through IPOs totaled 3.46 billion USD, the highest in ASEAN and the fourth largest in Asia, following China, South Korea, and India. 26 listed companies are members of Dow Jones Sustainability Indices, reflecting the leading role SET is playing helping to drive institutional capital to sustainable businesses.

SET President Pakorn Peetathawatchai said that on May 8, 2023, SET and Thailand Futures Exchange PCL (TFEX) inaugurated the new trading system, as well as the data distribution system and the market surveillance system, using the most advanced technology and innovation, developed in collaboration with Nasdaq, a world leader in market infrastructure technology. Notably, the new systems have achieved a smooth transition, enabling increase in efficiency, faster order management, while being able to support the increasing volume of transactions in the future and the development of a variety of investment products with innovations for both domestic and foreign investors, in line with the SET vision “To Make the Capital Market ‘Work’ for Everyone”.

“The new system implementation is an upgrade of the core operating system that is the heart of the Thai capital market, making it more efficient and flexible, ready to support the development of the capital market in the future. Significantly, this system has world-class and standardized connectivity as utilized by leading exchanges globally. This success will not be possible without all parties involved consisting of regulatory entities, member companies, system developers, and related entities that have helped support, develop and test the system continuously until the launch of this new system, another milestone for the development of the Thai capital market for future sustainable growth.” added Pakorn.

Nasdaq Executive Vice President and Head of Marketplace Technology, Roland Chai said “The successful launch across a broad range of Nasdaq’s solutions reflects the benefits of an integrated approach to upgrading technology infrastructure, and a clear strategy to meet the evolving demands of the market. Global capital markets are increasingly demanding resilient and robust technology, capable of withstanding ever-greater volatility and volume. Well-functioning, trusted markets are critical to inclusive growth and prosperity, and we are pleased support the ongoing development of SET as it serves the Asian market.”

“The technology has been implemented in partnership with Nasdaq, providing an efficient, robust, and fair platform to facilitate trading across a broad spectrum of asset classes. It also leverages Nasdaq’s Market Surveillance Technology, which is widely used by regulators and exchanges globally, the company’s Index Calculation Technology, which enables providers to calculate and disseminate indices across different asset classes, currencies, sectors, and geographic regions, and Pre-trade Risk Management service, a low-latency risk solution for trading and sponsored access clients.” added Roland.

Source: Nasdaq