SET Launches New Trading System Based on Nasdaq Technology

The Stock Exchange of Thailand (SET), one of the most actively traded exchanges in Asia, announced the launch of its new trading system, together with new market data distribution and market surveillance systems, all based on Nasdaq technology. All systems operate seamlessly and at full speed in line with international standards and best practices.

The launch of new systems marks a milestone in the ongoing development of the modern Thai capital market. It will support the growing transaction volumes and a variety of innovative investment products, while further enhancing the trust and integrity of the market.

Pakorn Peetathawatchai​, President at SET, stated that SET and Thailand Futures Exchange PCL (TFEX) officially inaugurated the new trading system, as well as the the data distribution system and the market surveillance system, on May 8, 2023. The implementation of new systems has resulted in a seamless transition, allowing for increased efficiency and faster order management. Moreover, these systems are designed to support the rising volume of transactions in the future and facilitate the development of a variety of innovative investment products for both domestic and foreign investors.

Pakorn added: "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."

Roland Chai, Executive Vice President and Head of Marketplace Technology at Nasdaq, commented: "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."

Roland continued: "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."

Earlier this year, Nasdaq also expanded the partnership with Dhaka Stock Exchange​ (DSE) on trading technology, helping to upgrade DSE's X-stream INET technology to accommodate the increasing trading activity of the exchange while maintaining its market resiliency and investor integrity.