SET Group

The SET Group and Shareholding Structure

The SET group consists of The Stock Exchange of Thailand (SET) including subsidiaries and affiliates

which can be divided into two main business groups according to the business structure of the SET group as follows:


Core Exchange Function

The business function is directly associated with the SET business as stipulated in the Securities and Exchange Act. This function consists of the following SET subsidiaries and affiliates:


The Stock Exchange of Thailand (SET) linkout

SET was incorporated under the Securities Exchange of Thailand Act, B.E. 2517 (1974) to be the center for the trading of listed securities, and to provide related services, operating on a nonprofit-sharing basis. SET’s role is to promote savings and longterm capital fundraising for the country’s economic development. Currently, SET operates under the legal framework of the Securities and Exchange Act, B.E. 2535 (1992). SET’s core operations are the listing of securities, the supervision of information disclosures by listed companies, the securities trading & surveillance, the monitoring of member companies involved in securities trading, as well as the dissemination of information and the promotion of education among investors.


Thailand Futures Exchange PCL (TFEX) linkout

TFEX was established as a derivatives exchange, governed by the Derivatives Act B.E. 2546 (2003) and under the supervision of the Securities and Exchange Commission (SEC). TFEX is allowed to trade futures and options, where the permitted underlying assets are equities, debt instruments, commodities, exchange rates, other indices and others as may be announced by the Securities and Exchange Commission (SEC).


Thai NVDR Co., Ltd. (TNVDR) linkout

TNVDR is responsible for executing the purchase or sale of those listed company shares whose investors wish to trade through NVDRs. This service is offered to all, irrespective of the number of securities held or the holder’s nationality. NVDR holders receive the same full financial benefits as they would receive had they invested directly in shares (i.e. dividends, rights, and warrants) but there are no voting rights for NVDR holders.


Thailand Clearing House Co., Ltd. (TCH) linkout

TCH acts as a Clearing House for clearing all securities and derivatives traded on the SET, mai, and TFEX.


Thailand Securities Depository Co., Ltd. (TSD) linkout

TSD acts as a central scripless securities depository and registration for listed securities in SET and Market for Alternative Investment (mai), including unlisted securities such as bond and government bond.

Remark: Thai Trust Fund Management Co., Ltd., a SET subsidiary, has been approved to cease operating the securities business and has returned the license to The Securities and Exchange Commission (SEC). Consequently, Thai Trust Fund Management Co., Ltd. has already changed its name to TTF Corporation Limited, with amended  corporate objectives submitted to the Department of Business Development, Ministry of Commerce.

New Business & Infrastructure Development Function

The function focuses on new businesses or businesses related to infrastructure development to support SET’s operations and to build solid infrastructure foundation for the capital market stakeholders. The function does not only enhance service quality by reducing redundant processes of the overall industries but also cuts operational costs of the whole industries. The function consists of the following SET subsidiaries:


SET Venture Holding Co., Ltd. (SVH)

SVH is a holding company that invests in subsidiaries engaged in all new business and infrastructure development.


Finnet Innovation Network Co., Ltd. (FinNet) linkout

FinNet is a service provider for payment of infrastructure system of capital market clearing by acting as an intermediary that connects payment transactions with commercial banks.


Live Fin Corp Co., Ltd. (LiVE) linkout

LiVE is a service provider platform that enhances the strength and competitiveness of SMEs and Startups through professionallycurated educational contents, services to heighten the organization’s capability, and entrepreneurial development programs to prepare them for the capital market.

logo_settrade Co., Ltd. (Settrade) linkout

Settrade provides Online Trading Platform in relation to Securities, Derivatives and Mutual Funds through Streaming and Streaming Fund+ applications. Settrade also provides various work systems that support the operations of member companies e.g. Derivatives Back Office and Online customer on boarding system.


Digital Access Platform Co., Ltd. (DAP) linkout

DAP provides infrastructure services for financial industry focusing on efficiency enhancement by streamlining connectivity process through Fund Connext and Digital Gateway services. FundConnext acts as a standardized platform for both asset management companies and selling a g e nt s t o fa c i l i t at e m u t u a l f u n d s transaction including order routing and settlement. Digital Gateway provides a single access point and proxy service for various services related to identity verification, eMeeting and eStamp duty

TDX Main

Thai Digital Assets Exchange Co., Ltd. (TDX)   linkout

TDX is a licensed Digital Asset Exchange offering a secured, reliable and transparent Digital Token trading platform. We aim to broaden an opportuinity for a company to raise fund and provide an opportunity for a customer to diversify their portfolios.

Shareholding Structure of The Stock Exchange of Thailand (SET) in Other Companies


TSFC Securities PCL (TSFC)

TSFC is to be the main source of securities funding for both securities companies and investors. It was established to complete credit services for the securities financing in accordance with the needs of securities business and support the government policies to help and develop the country’s securities and capital market businesses.


TRIS Co., Ltd. (TRIS)

A credit rating institution to assess the creditworthiness of debt instruments for investors to make an informed decision.


National Digital ID Co., Ltd. (NDID)

NDID aims to be the country’s infrastructural digitization that can help building new creative services and businesses in the digital economy.


INNOSPACE (THAILAND) Co., Ltd. (InnoSpace)

A center to help and support Thai startups ecosystem. InnoSpace (Thailand) intends to promote Thai startups to be the next frontier in driving Thailand’s economic development according to the 4.0 Thailand policy. (Not for profit but profitable).