KGiSL bags Broker Back Office project for Stock Exchange of Thailand

Thursday 19 August 2021 11:45
KGiSL, a global IT products, services and solutions provider, has announced a landmark contract win from the Stock Exchange of Thailand (SET), one of the largest stock exchanges in ASEAN, to provide a Broker Back Office platform for Thailand's brokers. KGiSL's offering, which will be hosted by SET and made available to all capital market brokers, will be based on its flagship Dolphin platform, an end-to-end back-office system that eases business operations with seamless and controlled automation. The implementation is expected to be completed within 16 months.
KGiSL bags Broker Back Office project for Stock Exchange of Thailand

Dolphin, the leading back office platform in India, caters to 60% of its institutional brokers, supporting back office clearing and settlement operations. Dolphin is set to become the one-stop solution for brokers in Thailand, with its ability to handle multiple asset classes including equities, bonds and offshore trading for both retail and institutional brokers. The next-generation technology platform has been tested for handling 5 million trades/day and has the potential capability to scale vertically and horizontally, supporting increases in business volumes. Dolphin was chosen over other leading systems because it was a better fit for requirements and for the robustness, scalability and automation capabilities it offers.

Dr Pakorn Peetathawatchai, President, The Stock Exchange of Thailand said, "This is one of our most ambitious and challenging projects to establish a common, streamlined infrastructure that will open up new possibilities for Thai brokers to revolutionize back office business models. We strongly believe that continued support from participating brokers in providing valuable insights along with KGiSL's delivery capabilities will be key ingredients in contributing to the project's success."

On the association with SET, Prassadh Shanmugam, Director & Chief Executive Officer KGiSL said, "This is a huge win for KGiSL. Dolphin has been the undisputed market leader in India so far, but we have had limited successes in other markets. This order opens up the entire ASEAN & APAC market to create similar success stories like how we have done in India. KGiSL is poised to invest more in Dolphin's capabilities by adding Artificial Intelligence (AI), Machine Learning (ML), Business Intelligence (BI) and Analytics. I would also like to thank Dr Pakorn Peetathawatchai, President of The Stock Exchange of Thailand and the entire management of SET for placing their trust in KGiSL and Dolphin."

About The Stock Exchange of Thailand (SET)

SET is the most liquid stock market in ASEAN with end-to-end services to empower a seamless journey for all investors, securities brokerage companies and market participants. SET has transformed toward a partnership platform by harnessing world-class technology and digital innovation to enable all parties to benefit from the Thai capital market in line with the vision 'To Make the Capital Market Work for Everyone'. A number of open architecture and interoperable platforms have been developed with the aim of building an ecosystem crucial for fundraising, wealth creation, and the country's development, widening business opportunities for operators in the securities industry while offering investors convenient access to investment data, products and services. For more information, please visit www.set.or.th.

About KG Information Systems Private Ltd (KGiSL)

KGISL is a global IT services, consulting and business solutions organization that has been partnering with some of the largest organisations in their transformation journeys for over 25 years. We harness the power of intelligent automation, hyper-automation, cloud, analytics and emerging technologies to power our clients to the digital world. KGiSL has offices in India, US, Malaysia, Singapore, Australia and Thailand. For more information, please visit www.kgisl.com.

KGiSL is part of the $750 million business conglomerate KG Group with interest in Textiles, Engineering, Healthcare, Education, Real Estate, Entertainment, Software and Business Support Services. The Group employs over 25000 people and is known for its philanthropic services to the community for over 8 decades. Learn more at www.kgworldwide.com.

Source: KGISL

KGiSL bags Broker Back Office project for Stock Exchange of Thailand