News Detail

Date/Time
18 Jul 2017 17:16:00
Headline
SET News :"FundConnext" and "Settrade Streaming for Fund" go live to widen mutual funds access
Symbol
SET
Source
SET
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          SET News 53/2017
                                                                                
                    July 18, 2017

"FundConnext" and "Settrade Streaming for Fund" go live to widen mutual funds 
access
BANGKOK, July 18, 2017 - The Stock Exchange of Thailand (SET) jointly with 
capital market partners, launched FundConnext on Monday 17 July 2017, which will
increase opportunities for investors to invest in mutual funds managed by
various asset management companies with more convenience than ever before
through mutual fund selling agents, including securities firms. At this initial
stage, five asset management companies and three securities companies have
joined and are ready to offer services.

SET President Kesara Manchusree stated that FundConnext is an important 
financial technology (FinTech) innovation aimed at giving investors and savers
fast and convenient access to a variety of mutual funds. This standardized and
centralized system allows asset management companies more flexibility to expand
business. In addition, to facilitate investors, Settrade.com Co Ltd., has also
launched the Settrade Streaming for Fund application so that securities firms
can offer mutual fund trading services for investors via smart phones.
FundConnext is considered a significant system resulted from the cooperation
between SET and stakeholders in all sectors of the mutual fund industry with key
objectives not only to support the growth of the mutual fund industry but also
to equip the Thai capital market with the state-of-the-art infrastructure. This
will enable investors, savers, and the general public to access investment via
the capital market, in line with SET's vision: "To Make the Capital Market
'Work' for Everyone."

Rapee Sucharitakul, Secretary-General, The Securities and Exchange Commission, 
Thailand (SEC), said that the FundConnext platform is the key infrastructure to
enhance competitiveness of mutual fund business and standardize the unit trading
process as such supporting long-term business growth. This is the first time
that SEC has connected the mutual fund information system with SET in order to
allow the FundConnext system to automatically generate mutual fund factsheet in
a standard format for investors, reducing the workload of asset management
companies as a result.

Voravan Tarapoom, Chairman of Federation of Thai Capital Market Organization 
(FETCO)and Association of Investment Management Companies (AIMC), said that
FundConnext centralized system developed by SET is an important foundation for
the expansion of mutual fund distribution channels in Thailand. The synergy from
cooperation among all in the mutual fund business sector has led to this
concrete result. Asset   management companies have joined forces to create a
standard application form for investors to open   mutual fund accounts so that
investors do not have to provide the same personal information repeatedly.
FundConnext provides an additional avenue for mutual fund market on top of the
existing channels through which investors can still trade mutual funds as usual.
All in all, this new mutual fund service platform, using innovative technology,
will create new opportunities for investors in making investment decision and
monitoring, as well as for the Thai capital market in gaining competitive edge
at regional level.

SET, in collaboration with the capital market sector, has developed FundConnext 
since 2016 and completed in Q1/2017. SET keeps on developing, and presently five
asset management companies are utilizing the system. These include Aberdeen
Asset Management Company, CIMB-Principal Asset Management Company, Kasikorn
Asset Management Company, SCB Asset Management Company and TALIS Asset
Management Company. In addition, three securities companies are utilizing
FundConnext, namely Kasikorn Securities, Maybank Kim Eng Securities (Thailand)
and SCB Securities. SET is currently working with stakeholders including banks,
insurance companies, and unit investment trusts for more services to come.
                                "SET...You Grow, We Groom"
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