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| • EXCH RATES |
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Baht/$ 33.41/44
Bid/Ask
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GOLD |
14,150
+ 100
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The Thailand Securities Depository (TSD) will delay plans to speed up the clearing-and-settlement cycle by one year.
The TSD had earlier announced that it would speed up the settlement cycle by one day to T+2, or two days following a transaction, by the end of this year.
But TSD president Sopawadee Lertmanaschai said the change was now expected to take two years to complete, as the clearing house wanted to verify the stability of its systems and processes to eliminate any chance of a default in payment processing or securities delivery.
The TSD also plans to improve services for custodians and brokers and encourage securities borrowing and lending.
The Stock Exchange of Thailand also plans to develop its post-trade integration (PTI) platform, in place since last October, to automatically link with brokers and custodians.
The TSD also wants to introduce pre-settlement matching to help reduce the time required in transaction processing and cut settlement risk.
''Even though the TSD has delayed the start of T+2, it will not really affect our business plan,'' Mrs Sopawadee added.
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