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Annual Report
2015
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 2015 and 2014, the details of investments for which margin deposits were placed by members amounting
to Baht 8,829.62 million and Baht 8,053.63 million, respectively are as follows:
Consolidated
2015
2014
Savings and fixed deposit accounts
8,291,930
7,565,619
Savings account in foreign currency
492,008
429,951
Accrued benefits
45,677
58,060
8,829,615
8,053,630
As at 31 December 2015, savings account in foreign
currency of USD 13.70 million was translated into Thai Baht
using the average transfer buying rate announced by the Bank
of Thailand at the end of the accounting period (2014: USD
13.10 million).
The Group presented margin deposits placed by members
separately in the account “Assets for margin deposits and
benefits” in current assets in the statement of financial position
and presented liabilities in the same amount in the account
“Margin deposits and benefits payable” in current liabilities in
the statement of financial position.
19. 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:
19.1 Securities Deposit
Members of TCH are required to place a Securities Deposit
according to the announcement made by TCH (the current
Securities Deposit for members, who are allowed to clear all
types of derivatives, is not less than Baht 5 million and for
only one type of derivatives is not less than Baht 4 million).
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.
19.2 Clearing fund contributions comprising
contributions from:
(1) The SET amounting to Baht 100 million
(Unit : Baht’000)
18. Assets for margin deposits and benefits