# Stock Exchange of Thailand

Stock Exchange of Thailand is a Government / Public Body based in Bangkok, Thailand.

## Overview

- **Organization type:** Government / Public Body
- **Headquarters:** Bangkok, Thailand
- **Region:** Asia
- **Address:** 93 Ratchadaphisek Road, Din Daeng, Bangkok 10400, Thailand
- **Founded:** 1975
- **Assets under management:** Undisclosed
- **Website:** set.or.th
- **LinkedIn:** https://www.linkedin.com/company/the-stock-exchange-of-thailand

## Regulatory record

- **Reports private funds:** No

## About

Stock Exchange of Thailand (SET) is a nonprofit organization that facilitates securities trading and related services. It aims to promote savings and long-term capital funding for the nation's economic development. SET has made two investments, including a Series A - IV investment in ADDX on May 24, 2022.

## Sectors

- Financial Infrastructure
- Public Markets

## People

- Asadej Kongsiri — President
- Kitipong Urapeepatanapong — Chairman of the Board of Governors

## Questions

### Is the Stock Exchange of Thailand a purely commercial entity or does it operate with a government mandate?

The SET operates as a hybrid — a self-regulatory organization with a public-interest mandate codified under the Securities and Exchange Commission Act of Thailand. The Ministry of Finance holds historical oversight ties but does not run daily operations. The exchange finances market-development initiatives like the Capital Market Development Fund and the INVESTORY museum, which are more characteristic of a state-aligned institution than a purely for-profit exchange group.

### What market tiers does the SET operate, and how are they segmented?

The SET runs a main board for large-cap and established companies, the Market for Alternative Investment (mai) targeting small and medium enterprises, and the Thailand Futures Exchange (TFEX) for derivatives. Additionally, the Bond Electronic Exchange (BEX) handles fixed-income trading. This structure mirrors multi-tier exchange models seen in Tokyo and Kuala Lumpur, with listing requirements calibrated by company size and track record.

### How does the SET generate revenue, and what is its relationship with listed companies?

Revenue comes from listing fees, annual fees, trading fees, and data services — the standard exchange model. Unlike a family office or fund, the SET is not deploying capital into portfolio companies. It sets listing and disclosure standards, monitors compliance, and can delist non-compliant firms. The October 2024 rule tightening around backdoor listings reinforced its front-line regulatory posture.

### How is the SET governed, and who holds decision-making authority?

A Board of Governors — chaired by Kitipong Urapeepatanapong — holds ultimate oversight, with a minimum of five governor positions per the SEC Act. The President, Asadej Kongsiri, manages daily operations across trading, surveillance, and issuer services. The Securities and Exchange Commission of Thailand provides external regulatory oversight, making the SET accountable to a state body rather than purely to shareholders.

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Last updated: 2026-06-03T20:00:00.000Z

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