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17. Assets for margin deposits and benefits
Thailand Clearing House Co., Ltd. (TCH) is the clearing house for derivatives market. Members of TCH who have outstanding
positions are obliged to place the required margin deposits as a guarantee according to the rate or amount called by TCH. TCH may
invest the margin proceeds according to specified terms and conditions. The benefits, after deducting management fees, shall be
distributed to members at the announced rates and procedures.
As at 31 December 2012 and 2011, the details of investments for which margin deposits were placed by members amounting
to Baht 6,810.07 million and Baht 6,053.02 million, respectively are as follows:
(Unit : Baht’000)
Consolidated
2012 2011
Savings and fixed deposit accounts 6,134,925 5,615,318
Savings account in foreign currency 245,174 -
Bonds 378,408 384,251
Accrued benefits 51,566 53,449
6,810,073 6,053,018
As at 31 December 2012, savings account in foreign currency of USD 8,042,262.19 was translated into Thai Baht using the
average transfer buying rate announced by the Bank of Thailand at the end of the accounting period (2011: nil).
The Group presented margin deposits placed by members separately in the account “Assets for margin deposits and benefits” in
current assets in the statements of financial position and presented liabilities in the same amount in the account “Margin deposits and
benefits payables” in current liabilities in the statements of financial position.
18. Assets for clearing system protection and benefits
The assets for clearing system protection are established to secure the clearing system of Thailand Clearing House Co., Ltd. (TCH)
against any damage caused by defaults by members or other incidents.
Assets for clearing system protection comprise the following :
18.1 Securities Deposit
Members of TCH are required to place a Securities Deposit according to the announcement made by TCH (the current
Securities Deposit for general clearing members is not less than Baht 5 million per member and for gold related products clearing
members is not less than Baht 4 million per member). TCH will invest the proceeds from the Securities Deposit and return any
benefits derived from the Securities Deposit, after deducting management fees, to members in accordance with the announced rates
and procedures. Assets held as Securities Deposit will be returned to members after their membership is terminated.
18.2 Clearing fund contributions comprising contributions from:
(1) The SET amounting to Baht 100 million
(2) Members of TCH:
• Initial contributions according to the announced rates (currently the initial contribution for general clearing members is not
less than Baht 5 million per member or for gold related products clearing members is not less than Baht 1 million per member)
• Monthly contributions at a value of not less than Baht 1,000
Securities Deposit and benefits are the right of the payers according to the proportion of their contributions. When the
membership is terminated, the member’s Securities Deposit and benefits on contributions will be returned.