The Stock Exchange of Thailand (SET) has expanded its strategic partnership with Nasdaq in a bid to modernise the region’s capital markets ecosystem.
Specifically, the stock exchange’s infrastructure will be enhanced by Nasdaq’s risk and surveillance technology, improving its market resilience, aligning with global standards, and leveraging Nasdaq’s AI capabilities.
The move follows SET’s prior deployment of Nasdaq’s advanced surveillance and risk technology in February 2024. SET had previously in launched a new trading system which was based on Nasdaq technology in 2023.
Read more: The Stock Exchange of Thailand leverages Nasdaq technology for new trading system
“SET plays a vital role supporting sustainable growth and attracting capital investment for Thailand and the broader Southeast Asia region,” said Tal Cohen, president of Nasdaq.
“Our expanded technology partnership with SET supports their continued modernization journey to enhance the liquidity, transparency and integrity of their market, thereby fostering trust and investor confidence in the financial ecosystem.”
Currently, Nasdaq’s technology is used by 97% of ‘global systematically important banks’ according to the firm, which includes half of the world’s top 25 stock exchanges, 35 central banks and regulatory authorities.
SET and Nasdaq have confirmed that they are set to work together on future innovation in the region, looking to enhance Thailand’s position as a leading financial hub.
Asadej Kongsiri, president of SET, asserted: “Resilience and integrity are essential to vibrant capital markets, attracting international investment. By adopting Nasdaq’s advanced risk and surveillance solutions and promoting them across our member community, we’re strengthening the foundation for prudent risk management, capital efficiency, and investor trust.
“This integrated approach enhances our ability to detect market abuse, monitor high-frequency trading and short-selling activities, and reinforce Thailand’s leadership position in ASEAN’s capital markets.”