Sub-custody guide: Thailand

Sub-custody guide: Thailand

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In November 2014, HSBC Thailand conducted an educational session on the US dollar Chats system in Hong Kong for the Stock Exchange of Thailand (SET). The SET is exploring the possibility for Thai equities and foreign securities listed on the Thai exchange to be settled in US dollars, in order to support various initiatives including dual listing and the Asean Collective Investment Scheme.

Thailand 2015

From June 2015 with the implementation of the pre-settlement matching system (PSMS) phase II, Thailand Securities Depository Co (TSD) will allow its participants to open segregated depository accounts at the client account level, in lieu of the current omnibus account structure.

HSBC Thailand strongly encouraged custodian banks and brokerage companies to open segregated depository accounts at the client level so the depository accounts could be mirrored with the client’s securities account maintained in the participants’ back office systems. It has also actively recommended that the TSD adopt e-proxy voting services and e-right subscriptions to increase efficiency in corporate action services. This matter requires regulatory amendment from the Ministry of Commerce, the Securities and Exchange Commission and the Stock Exchange of Thailand.

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