We are pleased to announce that the Stock Exchange of Thailand (SET), one of the top markets in Southeast Asia has selected Red Hat for its clearing and settlement systems upgrade, to accommodate business expansions and introduction of new financial products.
Established in 1975 in Bangkok, SET primarily serves as a center for trading listed securities and provides the essential systems needed to facilitate securities trading in Thailand. In 2012, SET achieved the region’s top average daily trading turnover for the first time, and its market capitalization set an all-time record high, surpassing the Thailand’s GDP for the first time .
As demand for automated trading increased and financial regulations continued to evolved, it became clear to SET that the organization needed to enhance its clearing and settlement systems. To meet these growing needs, SET sought to upgrade to a new clearing and settlement system to not only meet current demand but to also expand its business and product offerings and connect and carry out transactions with other clearing houses worldwide.
SET selected Red Hat Enterprise Linux and Red Hat JBoss Enterprise Application Platform to cope with volatile demands. By selecting Red Hat technology, SET is in good company, as today, Red Hat powers more than 50 percent of the world’s trading volume and continues to help set the standard in powering the future of financial trading .