Annual Report 2017

185 Subsidiaries Thailand Futures Exchange PCL Thailand Futures Exchange PCL (TFEX), a subsidiary of The Stock Exchange of Thailand (SET), was established on May 17, 2004, as a derivatives exchange under the Derivatives Act B.E. 2546 (2003). TFEX received a license to be a center of derivatives trading under the supervision of the Securities and Exchange Commission (SEC) on February 11, 2005. Effective on January 1, 2013, TFEX changed its Thai name to be in line with the Derivative Act. In November 2016, TFEX merged with Agricultural Futures Exchange of Thailand (AFET) Operations TFEX trades derivatives based on equities, bonds and other consumer products. By law, TFEX is allowed to trade futures, options and options on futures, including those with the following securities as underlying products: • Indices of securities, including equities • Debt instruments and interest rates • Commodities (e.g. gold, crude oil or foreign currencies, etc.) and other financial indices. TFEX’s objective is to benefit investors and related parties by: • Being a center of derivatives trading, meeting international standards, especially efficiency, and helping individual and juristic investors to effectively use the products as hedging instruments. • Offering alternative investments in a trading system that is fair, transparent and liquid according to international standards, including building confidence in the clearing and settlement of every transaction made on TFEX, as TFEX has the Thailand Clearing House Co., Ltd., which is very stable, as its counterparty. Providing investors with information that reflects the expectations of market participants as to future prices of securities. Investors and enterprises will thus be able to plan their operations more effectively. Registered capital andorganizationalmanagement TFEX has a total registered capital of THB 500 million, 100 percent wholly owned by SET. Board of Directors 1. Chaiyawat Wibulswasdi Chairman 2. Kesara Manchusree Vice Chairman 3. Charnchai Kongthongluck Member 4. Pakorn Peetathawatchai Member 5. Pattera Dilokrungthirapop Member 6. Santi Kiranand Member 7. Somjin Sornpaisarn Member 8. Suthep Peetakanont Member 9. Rinjai Chakornpipat Managing Director