Globlex to boost share via derivatives
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Globlex Securities aims to boost its market share to 2.5-2.7 per cent next year from 1.8-1.9 per cent now by focusing on derivatives and services rather than securities.
Chief executive officer Pitsanu Vichitcholchai said yesterday that the company had been the market leader in derivatives over the past three years.
Derivatives will be increased to 20 per cent of revenue next year from 14 per cent currently, while securities will drop to 50 per cent from 52 per cent. Other services will remain at 30 per cent, he said.
The company has 16,273 securities and derivatives customer accounts, of which 6,945 are active. Of the active accounts, 6,258 are for securities and the rest are for derivatives.
To cope with the liberalisation of commissions next year, Globlex has cut operating costs.
It forecasts the SET Index reaching 1,300 points next year on average daily volume of Bt34 billion versus Bt25 billion at present. Foreign investors are expected to return to the Stock Exchange of Thailand next year.
Energy, bank and construction stocks are expected to be the stars next year, as they will benefit from the post-flood restoration of the country, Pitsanu said.
