Afet gets nod to trade online

The Agricultural Futures Trading Commission has granted the Agricultural Futures Exchange of Thailand (Afet) permission to start online trading service in a bid to raise Afet's trading volume.
"Internet trading will facilitate investors as they can directly make transactions without traders. However, customers must trade via websites of brokers. When they send an order, it will be passed through control and risk-management systems of brokers to be verified first," said Chaipat Sahasakul, secretary-general of the Agricultural Futures Trading Commission. Afet brokers who want to provide Internet trading service are subject to approval from Afet, while customers must obtain permission from brokers. Internet trading has gained popularity on the Stock Exchange of Thailand and on futures markets overseas, including the Chicago Board of Trade and the Tokyo Commodity Exchange. According to data from the Korea Stock Exchange and Kosdaq, Internet trading surged from 2 per cent of total trading in 1998 when it debuted on both market to 60 per cent in 2003. There are five agricultural products trading on Afet: white rice 5 per cent, ribbed smoked rubber sheet No 3, standard Thai rubber 20, latex and tapioca starch premium grade.
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