The Stock Exchange of Thailand (SET) plays a vital role in the country’s economy by providing a platform for businesses to raise capital and for investors to buy and sell securities. As one of the key financial institutions in Thailand, the SET contributes to the development of the capital markets, promotes financial transparency, and fosters investor confidence. In this article, we will explore the history, structure, functions, and significance of the Stock Exchange of Thailand, highlighting how it influences Thailand's economy and offers opportunities for both local and international investors.

1. Overview of the Stock Exchange of Thailand (SET)

The Stock Exchange of Thailand was established in 1975 as the Thailand Securities Exchange. It officially changed its name to the Stock Exchange of Thailand in 1991. The SET operates as the main securities market for equities, debt instruments, and other financial products in Thailand. It provides a transparent and regulated environment for trading in both domestic and international securities.

The SET is a member of the World Federation of Exchanges (WFE) and the Asian and Oceanian Stock Exchanges Federation (AOSEF), making it a key player in regional and global financial markets. The exchange is overseen by the Securities and Exchange Commission (SEC) of Thailand, ensuring that the markets operate fairly and efficiently while safeguarding investors’ interests.

2. The Structure of the SET

The SET is made up of two primary markets:

• The SET Market (Main Board): The main market for listed companies. This is where large, established businesses with substantial market capitalization trade their shares. Companies listed on the SET typically meet stringent financial and regulatory requirements.
• The Market for Alternative Investment (MAI): Launched in 1999, the MAI is a market designed for small and medium-sized enterprises (SMEs) and startups that may not yet meet the criteria for listing on the SET. The MAI provides an opportunity for these companies to access capital while offering investors a chance to invest in emerging growth companies.

Both markets are designed to offer investors a variety of investment opportunities, from well-established firms to up-and-coming businesses. The SET also facilitates trading in debt instruments, derivatives, and exchange-traded funds (ETFs). shutdown123