Both parties have inked a Memorandum of Understanding (MoU) to collaborate in a pilot solution that will allow Thai investors to purchase overseas securities and mutual funds in Thai Baht.
[8 February 2023, Singapore & Bangkok, Thailand] – M-DAQ Global, a leading provider of FX solutions, and TSFC Securities Public Company Limited (Thailand), the leading securities finance corporation (SFC) in Thailand, announced today a strategic partnership to develop a multi-currency solution that will enable Thai investors to purchase overseas securities and mutual funds in Thai Baht without holding or converting into a foreign currency. Both parties will collaborate in areas including the commercialisation and strategy planning for a pilot solution set to launch within the next year.
The collaboration will leverage M-DAQ’s Trading the Right Chart™ solution to provide Thai investors with access to a wide range of overseas securities and assets in Thai Baht. M-DAQ’s solution supports at-trade conversion which provides price clarity and transparency for investors as it allows them to trade in their home currency.
This is contrary to pre-trade and post-trade conversion where the exact cost of FX conversion is unknown which can erode return or even result in an inferior trading decision.
This partnership follows an earlier initiative between M-DAQ and the Stock Exchange of Thailand (SET) to develop a solution that allows foreign investors to view the real- time prices of SET50 stocks in 10 different currencies. M-DAQ has also been collaborating with stock exchanges and trading facilities globally including Poland and the United Kingdom to utilise its Trading the Right Chart™ solution.
“Aligned with our aim to facilitate cross-border transactions around the world, we are thrilled to partner with TSFC Securities Thailand to empower end investors with more confidence backed by better clarity and control over their investments”, said Mr. Richard Koh, Founder and Group CEO of M-DAQ. “Our technology will provide Thai investors with access to a wider range of investment opportunities, while eliminating currency risks. This is a major step forward for the Thai securities and asset management markets and we are excited to be at the forefront of this development.”
“We always prioritise the interest of our investors and we are excited to collaborate with M-DAQ to provide them with this innovative solution,” said Mr. Udomkarn Udomsab, President of TSFC Securities Public Company Limited (Thailand). “By leveraging M-DAQ’s technology, we believe this partnership will be a game-changer for the Thai securities market and we are delighted to be a part of it.”