Thailand Futures Exchange Plc (TFEX) has authorized four gold-related agents to handle gold futures trading, along with existing 36 member brokers, from March 2 onward.

TFEX’s managing director Kesara Manchusree yesterday disclosed that four gold shops have passed the requirements for gold futures trading agents, set by TFEX, Thai Clearing House Co., Ltd. and the Securities and Exchange Commission (SEC).

The new gold-related agents, Kesara said, are Hua Seng Heng Gold Futures (HGF), MTS Gold Futures (MTSGF), TC Ausiris Futures (TCAF) and YLG Bullion & Futures (YLG).

“Their experience and expertise in the gold business will help expand our investor base and develop the gold futures market,” said Kesara.

In addition, she also revealed that GT Wealth Management (GTW), a joint-venture in the Gold Traders Association, has applied to be a gold-related agent and is expected to start operations by the middle of this year after it receives a license.

Kesara added that a large number of investors had paid great attention to gold futures during the last week of rising gold prices, resulting in an increase in number of average trading volume to 342 contracts a day, worth 272 million baht, from the average of 85 contracts per day during February 2-6, which is the first week of gold futures trading.

TFEX expects to introduce more gold-related agents by the middle of this year and it has planned to organise expositions for gold shops on gold futures and how to become TFEX selling agents in major cities throughout the kingdom, starting from Nakhon Ratchasima on February 28, Chiang Mai on March 7 and Hat Yai on March 21.