Annual Report 2017

25 Business Competition The financial liberalization and capital markets linkage around the world can bring huge benefits, but at the same time can also create competition. The SET group has therefore been operating under highly competitive environment. Although the SET group operates the only stock exchange in Thailand, local companies can also find their funding sources through exchanges abroad. Investors can choose to invest in other exchanges freely to suit their preference. On top of that foreign exchanges can also develop similar investment products or substitutes to attract both Thai and international investors. Furthermore, new types of trading used in other countries may enter Thailand in the near future, such as the alternative trading system (ATS) or the non-exchange trading venue, and the order internalization process within the securities firms’ own inventory, etc. could be the SET Group’s competitors. In addition, the new wave of financial technology (FinTech) revolution has been increasingly and significantly popular over the past few years to serve a variety of needs in financial industry. FinTech could be an opportunity for the SET group as a business partners (FinTech firms), and could also be a threat as competitors (financial services) in the future.