The SET Group and Shareholding Structure

Tweet |

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:

1. 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) 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 long-term 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) TFEX is the exchange for derivatives products based on a variety of asset classes covering equity, debt instrument, commodities and other price indices. TFEX was granted a license to be a center of derivatives trading issued by the Securities and Exchange Commission, Thailand (SEC) on February 11, 2005.

	Thailand Securities Depository Co., Ltd. (TSD) TSD offers a one-stop securities services related to trading on The Stock Exchange of Thailand. TSD provides two types of services: 1) Securities depository services: TSD is a central securities depository for equity and fixed-income debt instruments, using a secure and efficient scripless system. 2) Securities registration services: TSD is the registrar for securities. It also offers registrar-related services, mainly preparing and maintaining registry books to ensure that they always contain correct, complete, and timely information. TSD delivers its services using cutting-edge and secure computerized systems that are directly linked to the SET's securities depository system.

	Thailand Clearing House Co., Ltd. (TCH) TCH is the clearinghouse for the clearing & settlement of all securities and derivatives traded on SET, mai, BEX, and TFEX. TCH serves as the central counterparty to all trading activities and guarantees clearing and settlement for all the transactions of such markets as mentioned. As such, TCH reduces overall risk and strengthens confidence among all market participants while promoting the long-term development of the Thai capital market.

	Thai NVDR Co., Ltd. (TNVDR) Thai NVDR runs the business by issuing and selling the non-voting depository receipts or NVDRs to investors. Thai NVDR will then invest in SET-listed securities. 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 other shareholders: dividends, rights, and warrants, but there are no voting rights for NVDR holders.

	Thai Trust Fund Management Co., Ltd. (TTF) The company’s objective is to support and promote investment by foreign investors in SET’s securities via mutual funds, in addition to (their) currently investing in foreign stocks.

2. 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) The company operates the business as a holding company by managing and overseeing all the SET’s businesses relating to new business & infrastructure development.

	Finnet Innovation Network Co., Ltd. (FinNet) The company provides services involving the payment infrastructure system for the capital market. FinNet acts as an intermediary institution that connects payment transactions with commercial banks.

	Live Fin Corp Co., Ltd. (LiVE) The company serves as a full-service business that helps startups grow their business. Service offerings include facilitating access to funding, providing educational and training courses, supporting capacity building and developing fundraising systems. The company also helps facilitate securities trading for SMEs and startups.

	Settrade.com Co., Ltd. (Settrade) Settrade’s objective is to provide securities companies with Internet trading services and investment technology to facilitate trading via online channel for retail investors. In addition, Settrade also develops securities-related computerized systems and applications. Moreover, Settrade also acts as sales representative and marketer of SET's data & information products, enabling efficient dissemination of information to investors and other entities in the Thai capital market.

	Digital Access Platform Co., Ltd. (DAP) The company provides services engaging in electronic network system, supporting system and other services that support electronic and digital transactions.

	Thai Digital Assets Exchange Co., Ltd. (TDX) * The company operates as a center for the purpose of trading digital assets, or manages the setting up of a center or network to trade or exchange digital assets.

Remark: * Thai Digital Assets Exchange Co., Ltd. Will operate the business after obtaining a business license according to the Emergency Decree on Digital Asset Business Operation B.E. 2561 (2018) and approval from SEC.

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

Joint-venture and other companies (shares held by SET)		% Holding by SET
	TSFC Securities PCL (TSFC) A center for short-term and long-term fundraising, with borrowing and lending services for securities firms and securities investors	40.65%
	TRIS Co., Ltd. (TRIS) A credit rating agency providing credit rating services by assessing and analyzing the creditworthiness of companies and local-currency debt instruments, as supporting documents for investors’ decision-making process.	13.34%
	National Digital ID Co., Ltd. (NDID) A company that provides the digital identity verification and verification platform for related party such as the Department of Provincial Administration, Department of Business Development, The private sector.	7.5%
	INNOSPACE (THAILAND) Co., Ltd. (InnoSpace) A center for comprehensive promoting and developing Thai startups.	9.52%*

* including 2.72% of shares held by LiVE (SET’s Subsidiary) in InnoSpace