The Securities and Exchange Act prescribes that no person may engage in the business of securities exchange, other than the Stock Exchange of Thailand. The act also requires that a person may engage in the business of over-the-counter centres, once obtained a relevant license from the SEC. The provision of an electronic trading platform (ETP) service could be deemed to be conducting a securities exchange business, over-the-counter centre, or a similar business, as this would depend on the transactions and the arrangement of the platform.
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The Stock Exchange of Thailand (SET) provides a real-time trading platform for investors to trade stocks, futures and options, which is called “Streaming “. This platform enables investors to trade in both equity and derivatives markets using a single application, and to track the movement of the markets and obtain real time quotes for respective stocks. The application also provides fundamental information on the capital markets and stocks, and analytical research from various brokerage firms.
The SEC is in the consideration process to require that the ETP be categorized as a form of ‘securities business’, whereby any person who wishes to engage in the business is required to apply for a securities license. Recently, the SEC arranged for a public hearing in regard to the regulatory sandbox for the ETP, this includes the ETP that permits investors to trade securities instantly, and not through securities brokerage firms. The SEC expects to issue its official notification setting out the framework of this regulatory sandbox project in the third quarter of 2017.
Please note that trading of factoring is not regulated by the SEC. (Please see Section (g) for more information).
Securities brokerage companies and investment advisory companies also provide interactive online and application advisory (non-trading) platforms where investors can obtain fundamental and advisory information from investment advisors or financial experts.
However, none of the above trading and non-trading platforms allow users to make their investment portfolios publicly visible, and nor are the portfolios be linked to and followed by other traders via the platform automatically.
Athistha (Nop) Chitranukroh
Piyanuj (Lui) Ratprasatporn