The regulations under revision include operating hours and expanding the scope of branch managers' duties to cover several branches rather than just one, SET senior vice president Kengkla Ruckphaopunt said yesterday.

The process will be completed in the second quarter.

He said there is vast room for brokers to set up branches in commercial banks, given that there were 5,000 commercial bank branches around the Kingdom. Establishment of branches in commercial banks carries lower costs than traditional branches, he said, adding that the new offices would include full and cyber branches.

The SET estimates that about 30 new cyber branches will be "functional" under the roofs of commercial bank branches in Bangkok and upcountry.

Cyber branches do not have officers to give advice about stock investments, while full branches have a staff to offer this service. However, investors will be able to open stock-trading accounts at cyber branches.

"Cyber branches open up the opportunity for investors to access the stock market easily, while brokers can also access higher numbers of customers and lower their costs. It can be used as a medium to educate people about savings planning and promote things like new securities products," Kengkla said, adding that hearings on the new regulations would begin next month.

At present, there are only three stockbroker cyber branches in the country. Phillip Securities (Thailand) has one in Chumphon province, and United Securities has two in Yala and Sakon Nakhon provinces. Kengkla said three or four brokers with commercial banks as parent companies had already applied to open cyber branches. 

Siriporn Chanjindamanee

The Nation