DW

New listing rules

Derivative Warrant (DW) is a financial instrument that requires a small initial investment but yields high returns. Profits can be made during both market ups and downs. 

Rule summary

  1. Qualifications of DW issuers
    • Approved by the SEC
  2. Qualification of DWs
    • Bearing holders’ names and having no transfer restrictions
    • Having underlying assets meeting qualification criteria
Underlying assetsQualifications of underlying assets
Common Stocks
  • Common stocks that are constituents of the SET50 Index
  • 2. Common stocks ranked 51st–100th in the SET100 Index, with an average quarterly market capitalization of no less than THB 10 billion for at least four consecutive quarters
Underlying IndicesSET50 Index, SET100 Index, SETHD Index, or industry group and sector price indices
Foreign Common Stocks
  1. Meeting qualification criteria as specified by the SEC:
    • Average quarterly market capitalization of not less than THB 10 billion for at least four consecutive quarters
    • Listed on stock exchanges that meet at least one of the following conditions:
      • Being under the supervision of ordinary members of the International Organization of Securities Commission (IOSCO)
      • Being members of the World Federation of Exchanges (WFE)
      • Located in the Greater Mekong Subregion (GMS) countries
    • Having sufficient liquidity
    • Having accessible information
  2. Having the market capitalization of at least THB 200 billion in the latest quarter
Foreign Stock Indices
  1. Meeting qualification criteria as specified by the SEC:
    • Being widely-recognized indices
    • Being composed of stocks issued by foreign companies listed on stock exchanges that meet at least one of the following conditions:
      • Being under the supervision of ordinary members of IOSCO
      • Being members of WFE
      • Located in the GMS countries
    • Having clearly-defined index calculation methodology
    • Being regularly published
  2. Being composed of stocks listed on foreign stock exchanges that meet at least one of the following criteria:
    • Located in CLMV countries
    • Listed in countries recognized by the SEC
    • Being among the top 30 companies by market capitalization
  3. Having reliable data sources with uninterrupted intraday accessibility
  4. Being indices on the SET-approved list
ETFsMeeting qualification criteria as specified by the SEC
    • Maturity period must range from 2 months to 2 years.
    • Offering size must be at least THB 20 million.
    • DW price must be at least THB 1 on the filing date.
    • DWs must have market makers throughout the period during which they remain listed securities.
    • SET must be appointed as the securities registrar for the listed DWs.
  2. Additional qualification criterion for further issue
    • The distribution of DWs must be at least THB 20 million or at least 50% of the filed issue size, excluding holdings by issuers and market makers.

Process

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Contact us
For more information
Contact us
For more information
 please contact the Equity Product Development Department, The Stock Exchange of Thailand
 mail 1   E-mail: SETEQTEAM@set.or.th
 please contact the Equity Product Development Department, The Stock Exchange of Thailand
 mail 1   E-mail: SETEQTEAM@set.or.th