Bitcoin Futures listed on both CME and CBOE, which are based in Chicago. The country's financial authorities say the contracts should be offered in Thailand, as there is only one company to offer to its clients.
Futures contracts are available now
According to local publications, Phillip Securities Ltd. announced on Monday the launch of futures contracts for investors wishing to invest in futures contracts listed on both the Chicago and CBE exchanges. Apisak Vongvanij, head of global markets at Phillip Securities in Thailand, explained that customers "must apply for the company's global derivatives service." He also said that the service, which started six years ago, would allow them to trade futures in 15 global futures markets, including CBOE and CME. "The Thais are considered to be reasonably active investors," he said, adding that the prices are quoted in US dollars. To make money to cover their investment margin. Investors should prepare a sum of money as a reserve for price movements that are 20-30% above the margin.
Feedback Regulators
During the Phillip Securities announcement, the company claimed that it was the first and only brokerage company in Thailand to provide futures trading services for both the CBOE and the CME. In response to the company's claim, the head of the Bank of Thailand, Chantavarn Sucharitakul, expressed concern. Said the company's statement could mislead investors by believing that its services had been approved by the Bank of Thailand (BOT) and added that the bank did not legislate the Betquin as a currency for financial transactions. In addition, she said the central bank allows Thai investors to invest in foreign financial assets, but they should be aware of the high risks associated with digital currencies.
While the head of the Thai Stock Exchange, Kesara Manchusree, agreed on the risks associated with the digital currency, he believes that since Phillip Securities is a member of the CBOE and CME markets that provide Bitcoin trading services, it will be able to provide the Betquin investment service to Thai investors. Since both exchanges are under the direction of the US Commodity Futures Trading Commission, Paralee Sukonthaman, Assistant Secretary General of the Securities and Exchange Commission (SEC), said:
"Thai brokerage firms can provide futures trading services for the petrochemicals in these futures markets"
"As this product is under the supervision of a unified regulatory body, the concern in this case is not about fraud or money laundering, but about the high risks inherent in its circulation," said a statement issued by the Thai Internal Control Agency,