The Stock Exchange of Thailand and Clearstream launch link for investment funds

Stocks and Financial Services Press Releases Monday September 23, 2019 16:12
Bangkok--23 Sep--SET Corporate Communications
Today, The Stock Exchange of Thailand (SET) and Clearstream Banking S.A., an international central securities depository, launched a joint connection to enable cross-border funds transactions.

The new linkage between SET's mutual fund platform FundConnext and Clearstream's global fund processing platform Vestima enables international investors to access the Thai fund market. As of August 2019, the Thai mutual fund market encloses assets under management at THB 4.01 trillion (EUR 119 billion). In return, Thai investors have access to more than 190,000 investment funds from close to 50 jurisdictions worldwide via Vestima.

The linkage of the two platforms is operated via SWIFT's standard messaging format ISO 20022. Cash will flow through Standard Chartered Bank (Thai) Public Company Limited.

Pakorn Peetathawatchai, SET's President, commented: "The linkage enhances fully automated capabilities for cross-border investment fund distribution between Thailand and the world. As the first implementations of ISO 20022 in Thailand, FundConnext is committed to providing the world and Thailand's investment communities with lower cost, ease of access and more efficient services."

Bernard Tancr, Head of Investment Funds Services at Clearstream, commented: "Adding order routing, asset servicing and settlement services for Thai domestic investment funds to our portfolio perfectly fits our Asia funds strategy. The connection between Clearstream's Vestima and SET's FundConnext will enhance access to Thai and international funds for domestic and global market participants."

Lisa O'Connor, Managing Director, Capital Markets and Standards, APAC, SWIFT, commented: "For more than ten years, ISO 20022 has been widely adopted as a standard for funds distribution and processing as it allows for interoperability, richer data and straight-through processing. We are delighted that Clearstream and The Stock Exchange of Thailand decided to leverage ISO 20022 and SWIFTNet capabilities to design their link and we strongly believe it will bring benefits to all their investors."

Plakorn Wanglee, President & CEO, Thailand and Representative Offices Standard Chartered Bank (Thai) said: "We are pleased to partner with SET and Clearstream in further developing the FundConnext platform, which will enhance the cross-border mutual fund subscription and redemption flow. With our global innovation and network and the strength of all partners, the synergy will pave way for the meaningful growth of Thailand's mutual fund industry."

About The Stock Exchange of Thailand

The Stock Exchange of Thailand (SET) is among the most liquid exchanges in Asia, providing a full range of investment products including equities, derivatives, as well as world-class trading, post-trade infrastructure/technology services in accordance with international practice (EMEA, PFMI). Going forward, SET's vision "To Make the Capital Market Work for Everyone" is aligned with the aim to support strong economic growth and competitiveness. Globally and regionally, SET has also actively coordinated with other exchanges to boost investment opportunities and capital market growth potential. Moreover, SET puts strong emphasis on sustainable growth by promoting listed companies' business models that care for environmental, social and governance (ESG) practices.

About Clearstream

As an international central securities depository (ICSD), headquartered in Luxembourg, Clearstream, which is part of Deutsche Borse Group, provides the post-trade infrastructure for the Eurobond market and services for securities from 58 domestic markets worldwide. With around 14 trillion Euros in assets under custody, Clearstream is one of the world's largest settlement and custody firms for domestic and international securities. Alongside access to more than 190,000 investment funds in close to 50 jurisdictions worldwide and highly automated mutual fund services, Clearstream provides clients with a 'one-stop shop' solution for all fund types.

About SWIFT

SWIFT is a global member owned cooperative and the world's leading provider of secure financial messaging services. We provide our community with a platform for messaging and standards for communicating, and we offer products and services to facilitate access and integration, identification, analysis and regulatory compliance. Our messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories. While SWIFT does not hold funds or manage accounts on behalf of customers, we enable our global community of users to communicate securely, exchanging standardised financial messages in a reliable way, thereby supporting global and local financial flows, as well as trade and commerce all around the world.

About Standard Chartered

Standard Chartered Bank is a leading international banking group, with a presence in 60 of the world's most dynamic markets, and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity and our heritage and values are expressed in our brand promise, Here for Good. Standard Chartered PCL is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.


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