| Author | Tippawan Pinvanichkul |
| Call Number | AIT RSPR no. SM-95-28 |
| Subject(s) | Derivative securities--Thailand
|
| Note | A research submitted in partial fulfillment of the requirement for the degree of
Master of Business Administration |
| Publisher | Asian Institute of Technology |
| Abstract | This research looks in to two different aspects of derivatives-derivatives principles and the
operation of a well-implemented derivatives exchange. Based on these understandings and a
survey of derivatives market in Thailand, the feasibility of establishing a derivatives market is
carried out. A general recommendation is made for the basic structure of the exchange and the
potential products to be introduced.
The study starts with a brief discussion of the derivatives principles. The various
derivatives products, the uses of these products, the associated risks and benefits of using the
derivatives activities are briefly explained. Some historic instances are cited to highlight the losses
associated with derivatives products.
A survey is conducted on the practice of March a Terme des Instruments Financiers
(MATIF) which is considered as one of the most well developed, highly organized and
successfully implemented futures and options exchange in the world. The results of the survey are
discussed to give a better understanding of the operations of an organized derivatives market. The
general exchange operations are summarized into two aspects: market independence and the
exchange structure.
A survey was carried out on the current derivatives dealings and the OTC market
operations in derivatives in Thailand. Based on the survey result, the potential to establish the
futures and options exchanges of Thailand was determined. All these findings lead to
recommendations on initiation of the exchange, on the potential types of products to be listed and
the exchange structure. However, products specification and regulatory reformation are not
considered here. Finally the study comes to the conclusion, based on the study of various aspects
of derivatives, that although Thailand has a potential to develop the derivatives market, the time to
establish an organized exchange should be considered carefully. |
| Year | 1994 |
| Type | Research Study Project Report (RSPR) |
| School | School of Management (SOM) |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Master of Business Administration (MBA) (Publication code=SM) |
| Chairperson(s) | Gupta, Jyoti P.; |
| Examination Committee(s) | Pandey, Indra M.;Spieser, Philippe; |
| Degree | Research Studies Project Report (M.B.A.) - Asian Institute of Technology, 1994 |