4 banks join SWIFT message
The Stock Exchange of Thailand (SET)'s SWIFT message has welcomed four members - HSBC Thailand, Standard Chartered Bank (Thai) plc, Bangkok Bank plc, and Citibank Thailand. All agree to send corporate action news via SWIFT messages starting from this m
SWIFT's Corporate Actions solution is the format used for transmitting information of listed firms to depository participants directly. It enables members, including custodian banks, to directly receive information and data
from firms with accuracy, speed, and timeliness in term of straight through processing (STP). This reduces manual intervention in the dissemination and the potential for errors, said Bordin Unakul, SET Executive Vice President of
Post-trade Service & Development.
"In the first phase, we will focus on providing SWIFT's Corporate Actions service to members of the Thailand Securities Depository Co., Ltd. (TSD). SET is also in the middle of developing corporate action news by STP to brokers and
expects to launch the service to broker members by next year," Bordin added.
Teera Aphaiwongse, advisor to the SWIFT AsiaPacific Board, said; "SWIFT and its community are delighted with this new corporate action distribution capability. This ISO-standard-based solution will bring the Thai market to the highest
levels in corporate event notification services. Timely, accurate and standardised CA information is of crucial value to capital markets, as it reduces risk and eliminates significant costs. We congratulate TSD for this move forward, which will increase the appetite of international investors, as they will seek to invest in a safer market place."
