Thai brokers support futures merger idea

10 Apr 2006

Thai futures brokers have supported an idea floated by Stock Exchange of Thailand (SET) chairman Vijit Supinit to merge Agricultural Futures Exchange of Thailand (AFET) with Thailand Futures Exchange (TFEX).

Apichat Laksanasirisak, chairman of Futures Brokers Club, told Bangkok Post that a single market would help improve convenience for investors, increase the turnover of daily trade and speed up the expansion...

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“A lot of banks have spent a lot of money calculating the cheapest way to collateralise their positions, and they’ve hired some very bright mathematicians to do it. Why would they gamble all of that by using the cheapest clearing house?”

Senior rates players believe fears of a race to the bottom among clearing houses has been overstated.