Trinity Polaris aims for 10% of TFEX
A new partner and a new name has led the company that used to be called Trinity Futures to believe that, as Trinity Polaris Futures, it will attract a 10-per-cent share of brokerage fees arising from next month's advent of the Thailand Futures Exchange (TFEX).
Trinity Polaris Futures managing director Charnchai Kongthongluck said yesterday that his company expected at least 2,000 accounts from the 12,000-strong customer base of its parent company, Trinity Securities, who will be convinced to trade on the futures market when the TFEX opens on April 28. Trinity Futures has also entered into a joint venture with the Polaris Group, from Taiwan, which holds the No-1 ranking on Taiwan's derivatives market and has a top-five ranking in the equities market. The joint venture expects to benefit from a transfer of trading systems technology as well as strategies from the Taiwan experience. "We are certain the company will be operational and ready to trade in April," Charnchai said. However, the joint venture will not focus on Taiwanese customers in the initial stages as Thailand's futures market is expected to have a low trading volume over the first three to six months. He forecast that, after the initial slow period, the TFEX's trading volume would be about 1,000 contracts per day. Trinity Polaris Futures has a registered capital of Bt100 million with a par value of Bt10 a share. Trinity Securities holds 75.5 per cent of Trinity Polaris Futures, while the Polaris Group holds 24.5 per cent, and will send two directors to the new company. Trinity Securities director Kanitha Subha-Asia said yesterday that Trinity expects know-how and IT from the Polaris Group, including new derivative products, as the Taiwanese futures market has been operating for seven years and is now ranked No 3 in the world. Trinity Securities president Kampanart Lohacharoen said Thailand's futures market was certain to open on April 28 after its launch was earlier postponed several times. The TFEX will provide new options for investors. Polaris Group chairman Wayne Pai said the Thai capital market had reached a critical stage. Its development will now be accelerated by the introduction of the futures market as well as the new techniques and myriad of derivatives products attendant upon futures trading.
Siriporn Chanjindamanee The Nation
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