Sep. 5--The Stock Exchange of Thailand is planning to review its current transmission systems and links used between the market and local brokers to help safeguard against future breakdowns in trading operations, according to SET president Patareeya Benjapolchai.

The SET was forced to delay the opening of trade by one hour on Wednesday, as 16 brokers using a trading platform developed by DST met with problems related to the debut of shares of Southern Steel on the Market for Alternative Investment.

Southern Steel had originally sought to use 2S as its trading symbol, and local brokers had confirmed prior to the start of trade that the symbol could be handled by their trading systems.

But in the pre-opening session, problems were found regarding transmissions from 16 brokers, forcing a delay in the start of trade. Southern Steel later agreed to change its symbol to S2. Brokers using another trading system developed by Freewill Solutions did not have any problems.

Mrs Patareeya said local brokers should have a clear understanding with their software vendors about service and quality standards in managing orders to the exchange.

"The main IT system of the SET did not have any problems. We are able to link with any system. [The problems] rest more with the brokers," she said.

Local brokers have estimated that the cost of the trading delay could be as much as 4 billion baht, if calculated from average trading turnover per day.

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