Bangkok: SET and Nasdaq sign MOU to expand cooperation in technology development, enhance trading supervision, risk management in Thai capital market, and expand into the use of AI technology.
According to Thai News Agency, Mr. Atsadej Kongsiri, Director and Managing Director of the Stock Exchange of Thailand (SET), stated that the Stock Exchange of Thailand aims to enhance the infrastructure of the Thai capital market by introducing cutting-edge technology to enhance potential, strengthen transparency, and improve operational efficiency. The cooperation with Nasdaq is focused on increasing efficiency in securities trading supervision, covering inappropriate trading behavior, high-frequency trading (HFT), and short selling. It also promotes member companies to jointly use the service to increase efficiency in risk management and investment under the same standards. This development is believed to be a vital factor in driving strong growth of the Thai capital market and reaffirming its position as one of the leaders in the ASEAN region.
Mr. Tal Cohen, President of Nasdaq, emphasized the importance of the Stock Exchange of Thailand in supporting sustainable growth and attracting investment to Thailand and Southeast Asia. The expansion of technology cooperation between Nasdaq and the Stock Exchange of Thailand will support the operations of the Stock Exchange of Thailand. By building confidence among investors in the Thai capital market ecosystem, Nasdaq is proud to contribute to strengthening the potential of the Thai capital market and advancing Thailand towards becoming a leader in innovation and a regional financial hub.
Further collaboration between the Stock Exchange of Thailand and Nasdaq is set to explore new innovation opportunities by using the Stock Exchange of Thailand's expertise to introduce solutions developed by its experienced team to Nasdaq's clients in Southeast Asia. This will further highlight the strength of the Stock Exchange of Thailand's technological capabilities as a strategic partner of Nasdaq. Nasdaq's technology is widely recognized, with 97 percent of financial institutions critical to the global financial system, and about half of the world's top 25 stock exchanges utilizing its services. This includes 35 central banks and regulators, along with more than 3,800 organizations in the financial services industry.
In addition to its technological expertise, Nasdaq has extensive experience in business and cloud services, offering solutions that meet the needs of the financial services sector and support industry development with modern technology. The Stock Exchange of Thailand and the futures market have been using the trading system developed jointly with Nasdaq since 2023, which adheres to international standards of technology and innovation.