SET App
Settrade App
Membership Categories
1. Full License Member
Full License Members are permitted to trade all products listed on TFEX, either for their own accounts or those of their clients. These members are required to obtain a derivatives agent license from the Securities and Exchange Commission (SEC) before applying to be a member of TFEX.
2. Limited License Member
Limited License Members are permitted to trade derivatives contracts on TFEX for their own accounts or for those of their clients. However, their trading is limited to the underlying assets or variables as stated in their licenses as issued by the SEC.
3. Trading Member
Trading Members can trade derivatives contracts on TFEX for their proprietary account only. Trading Members shall provide liquidity for contracts as market makers with expertise in either futures trading or underlying business.
Membership Qualifications
To apply for membership on TFEX, each applicant must:
| Full License Member | |
| 1. Have a license to undertake derivatives business in the category of full license member by the SEC. | |
| 2. Have the minimum paid-up capital and maintain the minimum amount of net liquid capital (NC) as prescribed by the SEC. | |
| 3. Fulfill the following conditions: 3.1 Human resources Have executives who are qualified and are not prohibited under the law on derivatives or by the SEC; have the minimum number of officers having knowledge and/or experience in derivatives transactions and can perform duties as follows: investor contact (marketing), authorized traders, and compliance officers who supervise the performance of services related to derivatives contracts 3.2 Working systems Have computer systems and computer hardware that can be connected with those of TFEX, together with operation necessary for performing the services of derivatives trading 3.3 Risk management Have policies and procedures for managing and monitoring credit, operational, and market risks arising from changes in prices of derivatives contracts or prices of commodities or variables underlying derivatives contracts as well as legal risks which can support the undertaking of derivatives business. | |
| 4. Be a member of Thailand Clearing House (TCH) or be able to prove that the applicant has an agreement assigning a TCH member to pay debts incurred from the derivatives contracts which the applicant trades on TFEX. | |
| 5. Be a member of the association for supervision of the derivatives and in case where such association has not yet been established, the applicant shall proceed to become a member thereof within 60 days from the date such association is established. However, TFEX may extend the period of time within which the applicant shall become a member of such association. | |
| 6. Be a member of the Derivatives Investor Protection Fund if the applicant trades for individual clients. |
| Limited License Member | |
| 1. Have a license to undertake a derivatives trading business in category of derivatives broker limited to contracts of the underlying or variable specified by SEC | |
| 2. Have the minimum paid-up capital and maintain the minimum amount of net liquid capital (NC) as prescribed by the SEC. | |
| 3. Fulfill the conditions in terms of human resources, work systems, and risk management in line with the Full License Members. | |
| 4. Be a member of Thailand Clearing House or be able to prove that the applicant has an agreement assigning a member of TCH to pay debts incurred from the derivatives contracts which the applicant trades on TFEX. | |
| 5. Be a member of the association for supervision of the derivatives and in case where such association has not yet been established, the applicant shall proceed to become a member thereof within 60 days from the date such association is established. However, TFEX may extend the period of time within which the applicant shall become a member of such association | |
| 6. Be a member of the Derivatives Investor Protection Fund (DIPF) if the applicant trades for individual clients. |
Trading Member
1. Be approved by its board of directors and/or its related regulator
2. Have registered capital and shareholders’ equity of not less than THB 25 million
3. Be a juristic person with expertise or experience in derivatives on TFEX who is able to ensure liquidity on TFEX after being approved as a trading member
4. Fulfill the following conditions:
4.1 Human resources
Have enough authorized traders to undertake the derivatives business efficiently
4.2 Working System
Have computer systems and computer hardware that can be connected with those of TFEX, together with operation necessary for performing the services of derivatives trading
4.3 Risk management
Have policies and procedures for managing financial risk, operational, and other risks in line with the Full License Members.
4.1 Human resources
Have enough authorized traders to undertake the derivatives business efficiently
4.2 Working System
Have computer systems and computer hardware that can be connected with those of TFEX, together with operation necessary for performing the services of derivatives trading
4.3 Risk management
Have policies and procedures for managing financial risk, operational, and other risks in line with the Full License Members.
5. Be a member of Thailand Clearing House (TCH) or be able to prove that the applicant has an agreement assigning a member of TCH to pay debts incurred from the derivatives contracts which the applicant trades on TFEX.
Membership Fees
| Fees | Full License Member | Limited License Member | Trading Member |
| Application fee | THB100,000 | THB100,000 | THB100,000 |
| Initial membership fee | THB12,000,000 | THB4,000,000 | THB500,000 |
| Annual fee | THB500,000 | THB500,000 | THB120,000 |
Candidates who are upgraded to be a Full License Member from being a Precious Metal-Related Agent must pay the difference between the initial membership fees for the two categories, that is, THB8.0 mln.
