Thailand regulators allow the local securities company launched bitcoin futures
“Bangkok post” reported this week that Thailand securities and Exchange Commission has announced the launch of a securities company in Thailand’s first bitcoin trading service is legal, but requires investors to pay attention to the high risk.
According to Phillip securities Thailand branch (PhillipSecuritiesThailand) said, investors will be able to pass a multinational global derivatives trading services in the bitcoin market. Market regulators in Thailand agreed that the move is legal, you can continue to advance. Last month, the major exchanges CBOE and Chicago in the United States have introduced similar futures contracts, but other countries did not appear at present this product.
The board of directors of the company general manager LowSeeKiong said in a press release:
“CBOE and Chicago will be used as a basis for bitcoin assets will improve acceptance of bitcoin futures, because they have reliable payment systems and regulated by the U.S. Securities and exchange commission.”
He added, this product is launched futures for experienced investors, these people do not want to buy money directly through the encryption encryption currency exchange or broker license.
Phillip securities Thailand branch of the global market responsible person told the “Bangkok post”, to bitcoin trading futures customers must apply for the company’s global derivatives service, which will allow them in the 15 global futures market (including CBOE and Chicago Futures Institute). However, investors need to deposit funds to cover the investment profit, transactions will be quoted in dollars. On the margin, he added:
“In principle, investors should be ready to buffer the price movements of funds. Because of the personal risk management is different, the buffer may be low. For example, if they have a strict policy of stop loss, the buffer may less than 10%.”
Thailand is one of the main encryption currency exchange, providing direct exchange bitcoin and other ten kinds of copycat money and Fiat, also allows bitcoin exchange with less well-known currency. The Prime Minister of Thailand prayudh (PayutChan-ocha) recently warned of encryption currency trading, and suggested that the public should first understand the relevant knowledge in this field in front of.