SET names March 2, 2018 as T+2 date

SET president Kesara Manchusree said: “The target date to move toward the T+2 settlement cycle, from the current T+3, has been extensively consulted with all stakeholders – namely, the Securities and Exchange Commission (SEC), Bank of Thailand, security firms, custodians, asset management firms and banks – considering their preparation and system readiness. 
“From now, all parties will work closely together in changing the related operational process and system development in conjunction with the amendment of related rules and regulations in order to ensure smooth transition.
“We are certain that moving toward T+2 will benefit all stakeholders, not only in reducing the risks and costs but also in making it more convenient for cross-border portfolio investment. This change will keep [the] SET aligned with the leading settlement practices in markets around the world, while enhancing the Thai capital market’s competitive edge.”