Documente Academic
Documente Profesional
Documente Cultură
ofThailand(AFET)
Peerapon Prasertsri
AFET
Profile&Overview
Thailandasoneofthemostimportantagricultural
producersintheworld
Thailand's World Rank
Agricultural
Commodity
Production
Exports
Natural Rubber*
#1st
#1st
Rice**
#6th
#1st
Tapioca***
#2rd
#1st
Profile&Overview
EstablishedinaccordancewithThailandAgriculturalFuturesTrading
Act,B.E.2542
EstablishedasThailandsexclusiveexchangefortradingoffutures
contractinagriculturalcommoditieswithitsownClearinghouse
facility
100%electronic;Tradinghours:10:00 15.45(GMT+07:00)
Markets:Rubber(RibbedSmokedSheetNo.3),Rice(WhiteRice5%
andThaiHom MaliRice),andTapioca(TapiocaChip)
RegulatoryAuthority:ThailandAgriculturalFuturesTrading
Commission
RegulatoryStructure
Rule and Regulations
AgriculturalFuturesTradingActB.E.2542
Regulator
TheAgriculturalFuturesTradingCommission(AFTC)
chairedby theMinisterofCommerce
Exchange
AFET
BoardofDirectorscomprise
5PersonsAppointedbytheAFTC,
5PersonsElectedbyMembers,and
PresidentbeinganExofficioDirector
Customer
Hedgers/Speculators
AFETVision
Tobeoneofthesuccessfulcommodityexchangein
ASEANwhereitspricesarewellinternationalized
benchmarking
ProductsListedontheAFET
Ribbed Smoked Sheet
No.3 (RSS3)
28 May 2004
White Rice 5%
(BWR5)
1 Apr 2008
18 Aug 2005
Tapioca Chip (TC)
White Rice 5%
FOB (WRF5)
28 Apr 2011
14 July 2009
Thai Hom Mali
Rice (BHMR)
OverallAFETVolumeandValue,2004 2010
250,000
200,000
150,000
100,000
50,000
2004
2005
2006
2007
2008
2009
2010
Volume(Contract)
28,556
84,644
112,859
89,966
149,426
210,833
129,533
Value(millionbaht)
57,772
22,133
38,818
29,933
59,341
71,727
70,156
White Rice
Tapioca
0%
3.5 %
4,597 contracts
0 contracts
129,533
contracts
Thai Hom Mali Rice
0.02 %
32 contracts
Rubber
96.4%
124,904 contracts
AFETFuturesContractSpecification
Trading Hrs:
Contract Size:
Delivery Size:
Tick size:
Position Limits:
Last Trading Day:
Delivery Point:
10
AFETRSS3:AverageDailyVolumeandValue,2004 2011
800
700
600
500
400
300
200
100
0
2004
2005
2006
2007
2008
2009
2010
2011
Avg.DailyVolume
(contract)
101
252
339
274
454
394
516
677
Avg.DailyValue
(millionbaht)
25
78
135
108
188
133
285
564
11
1.81%
98.09%
0.07%
SHFE
0.02%
TOCOM
AFET
SICOM
TradinginAFET
6brokermembersand2tradermembers
Securedandefficientelectronictradingsystem
providedbyPatSystems
Easytradeaccess
ViaAFETbrokermembers
DirectlytradewithAFETasatradermember
13
MarketParticipants
TraderMembers
Retail
Institutions
Proprietary
Commodity
Trading
BrokerMembers
Investors
(Hedgers/Speculators)
Intermediaries
AFET
Exchange
Clearing
House
TheAgriculturalFuturesExchangeofThailand
14
ClearinginAFET
6clearingmembers
ClearingservicesareprovidedbyAFETs clearinghouse
throughPatsystems JClearTechnology
Theclearinghouseplaystheroleofguarantortothe
defaultriskofeachcontracttraded.
Clearingsystemincludes
Riskmanagement
Financialbacking
Clearing,settlement,anddeliverysystem
The Agricultural Futures Exchange of Thailand
15
RecentAchievements
Playingapartofimportantroleinpricingworldrubber
price(viaAFETRSS3Futures)
BeinganalternativewayforThaiGovernmentto
distributethericestockpile
NewProductDevelopment&Idea
BlockRubber(Q311)
OTCCommodityContract
TheAgriculturalFuturesExchange
ofThailand(AFET)
15th FloorCRCTower,AllSeasonsPlace,
WirelessRoad,Lumpini,Pathuwan,
Bangkok10330
Thailand
Tel:(662)2639888Fax:(662)2519535
Email:afet@afet.or.th
Website:www.afet.or.th
18
AppendixA:ContractSpecification
ContractSpecification
WhiteRice5%FOB(WRF5)
Description:
Contract Size:
Delivery Size:
Tick size:
Position Limits:
Last Trading Day:
Delivery Point:
20
Contract Specification
WhiteRice5%BothOptions(BWR5)
Trading Unit
Delivery Unit
Tick Size
Position Limit
Last Trading Day
Contract Specification
Thai
Thai Hom
Hom Mali
Mali Rice
Rice 100%
100% Grade
Grade BB Both
Both Options
Options (BHMR)
(BHMR)
Trading Unit
Delivery Unit
Tick Size
Position Limit
Last trading day
Contract Specification
Tapioca
Tapioca Chip
Chip Both
Both Options
Options (TC)
(TC)
AppendixB:AFETs BrokerMember
Agrow Enterprise
(AGE)
Hong Ta Futures
(HOT)
Agro Wealth
(AGR)