TFEX to start dollar futures trading on June 5

 Kesara Manchusri, mananging director of the futures exchange, said that the clearing house and 31 futures brokers last week won the Finance Ministry's approval for the foreign exchange-related service.
 She believed that the futures would provide a new hedging instrument to investors and companies.
 "This is the first time in Thailand for futures trading regardless of underlying assets. The Finance Ministry, the Bank of Thailand and the Securities and Exchange Commission see the need for this instrument. The tool would help Thailand cope with the increasing liberalisation in the financial and manufacturing sectors," she said.
 Trading hours are set for 9.45-12.30am and 2:30-4:55pm. Eligible to join the trading are individuals and companies based in Thailand or Thai residents. The market remains closed for non-residents.
 The dollar futures contracts come with four maturities - June, July, August and September. Each is priced at US$1,000 or about Bt30,000. Initial margin is set at 2 per cent of the value or Bt500 per contract. Brokers will charge Bt11 per contract as commission fee.