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Thailand Stock Exchange Sets Floor Rate on Commissions of 0.25 Percent.
Byline: Krissana Parnsoonthorn
Dec. 13--The Stock Exchange of Thailand has stepped in to solve the problem of shrinking brokerage commissions by setting a floor rate of 0.25 percent for both retail and institutional investors, expected to take effect early next year.
The decision reverses a year-old policy aimed at liberalising commissions.
Fees paid have fallen sharply over the past year, leading many brokerages to cut staff and research services in the wake of declining trading revenues.
SET president Kittiratt Na Ranong said the Association of Securities Companies would consider the proposal, approved yesterday by the SET board, and submit opinions soon.
He denied that reverting to the old system was a step backward.
"The reintroduction of fixed brokerage commissions is not a setback for the local securities industry. If we know that a price-cutting war is going to cause some of us to die, we should change business conditions to stay afloat," said Mr Kittiratt.
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