Institutional Services

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Direct Market Access (DMA)

Direct Market Access (DMA) is the trading method by which a member company allows eligible investors to enter trading orders via their electronic Order Management System (OMS) which are then sent to the brokers’ trading system. Customer orders pass through the member's risk management system before being routed and queued in the SET/TFEX trading system. Only Automatic Order Matching (AOM) is allowed for DMA trading, and Trader ID “D9999” must be specified in trade orders. Importantly, a member must be granted prior approval before providing DMA services to clients.

DMA Channel

Regulations for trading through Direct Market Access (DMA)

Equity Trading
 

• The member company may allow the following types of clients to trade via the DMA system:
1. Institutional investors, as defined according to the Notification of the SEC Ref. KorChor 4/2560
2. Any legal entity with the following qualifications:
   - Having a stable financial position.
   - Having experience in investment in the capital market, domestic or international market.
   - The management team have neither been accused of nor charged by the Securities and Exchange Commission (SEC) or The Stock Exchange of Thailand (SET) and have not been improper trading practices by SET.
   
   
• The member must have a connection system, administrative system, and security management system which comply with the Stock Exchange of Thailand requirements.
  
  
• The member must have a risk management system with minimum pre-trade risk control requirements as follows:
  1. Credit or exposure limit
  2. Maximum value per order
  3. Maximum volume per order
  4. Order price check
     
     
• Clients using DMA must comply with all SET trading regulations.
  
  
• Relevant regulations:
   
  • Securities trading
    • Procedures on Trading, Clearing and Settlement of Securities in the Exchange B.E. 2555 (2012)
       
  • Securities trading system
    • Standards of Trading of Securities through the Trading System B.E. 2555 (2012)

Derivatives Trading
 

• Regulations and Procedures for Trading on TFEX
  • Procedures Chapter 400 Trading
     
• Notification and Guidelines for Trading on TFEX
  • Summary on the Connection of the Computer Systems Used in Trading on the TFEX Trading System

Approval Process for Direct Market Access (DMA) Connection

1. Member submits request form for connection to SET/TFEX trading system via SCP Member Digital form https://www.setportal.set.or.th
    
2. Member conducts a system test and submits test results.
   
   
3. SET/TFEX reviews the request form, supporting documents and test results. 
   
   
4. Member sends signed document and related documents to SET/TFEX by hand to:
   
   Trading Operation Department, Fl.12
   The Stock Exchange of Thailand Building
   93 Ratchadaphisek Road, Dindaeng, Bangkok 10400
   
   
5. The approval decision is made by SET/TFEX. After receiving approval from SET/TFEX, the member will then be able to inform clients they can send trading orders via Direct Market Access.

The length of the approval process depends upon the accuracy and completeness of the member’s request form, supporting documents and test results.

Supporting documents required for the approval process	Type
When requesting approval from SET/TFEX, submit the following forms and any related documentation as specified.
Request Form for Connection of the Company’s Computer System to the Trading System of The SET / TFEX (Form MO-Member 1) to be countersigned by authorized person of the company. Details of pre-trade risk management controls (Form MO-Compliance1)
System Security Assessment Form (Form MO-Security1)
Certificate of Software in the member’s computer system by the Independent Software Vendor/Service Provider (Form MO-ISV1) ; to be countersigned by System Developer.
Application for the Program Trading Software (Form MO-PROG1) (In case of applying for using or providing program trading function).
Direct Market Access (DMA) Request Form (Form MO-DMA1); to be countersigned by authorized person of the company (In case of applying for providing DMA service). Details of the automated order checking system via Direct Market Access (DMA) (Form MO-DMA RM) Information on the DMA customer (Juristic person) (Form MO-DMA Client)
Form for Reporting the Intention to Utilize the API User on the SET CONNECT System (Equity Market) (In case of increasing API users for new platform or function - additional costs may occur)

Members can submit forms and documents on Member Digital Form at https://www.setportal.set.or.th