TFEX launches its latest product-gold futures

This Monday, Thailand Futures Exchange PCL (TFEX) officially launched its latest product-gold futures. Each gold contract is for 50 baht-weight of gold, based on the typical 96.5% purity standard used in the local market.

“With today’s highly volatile global gold price, trading gold futures is highly appropriate, either to use as a risk management tool or to enjoy the potential profits from that volatility.Thus, gold futures received great interest from investors.

In this initial period, investors can trade gold futures through 36 TFEX members. However, next month, we expect that four members experienced in gold trading will provide trading services, while selling agents (gold shops) will work with TFEX brokers. This will give investors more trading channels that are easy to access. The cooperation of these entrepreneurs will help expand the investor base and support the growth of gold futures trading,” said Ms. Kesara.

As of February 2, 2009, TFEX’s trading volume totaled 8,164 contracts, comprised of SET50 Index Futures (7,825 contracts), SET50 Index Options (132 contracts), stock futures (133 contracts) and gold futures (74 contracts). Retail investors accounted for 58.31% of total trading volume, followed by institutions at 27.14% and foreign investors at 14.55%.commissions on gold futures will be on a sliding scale.

For one to five contracts per day, the commission will be THB500 per contract; for the sixth through twentieth contract, it will be THB400 per contract and for the twenty-first contract on up, the rate will be THB300 per contract.

Kingfisher Airlines to start services to Bangkok

Kingfisher Airlines plans to start its scheduled daily services from its base in Bangalore to Bangkok in March, using Airbus A321 jetliners, as a part of its seven new overseas destinations that it intends to introduce this year. To be known here that only a few carriers have made their way to the airport of Bangkok post the seizure of the airports by the People’s Alliance for Democracy.

Kingfisher has set up an office in Bangkok. The company has appointed Success Aviation, a Thai travel agent, as its general sales agent to provide ground handling services at Suvarnabhumi Airport.

Phunchan Tanavatsatiend, chief executive of Success Aviation, said Kingfisher over time intended to add three routes to Bangkok from Mumbai, Kolkata and Delhi. Those are the routes on which the bulk of air traffic between Thailand and India is moving.

Kingfisher will be targeting premium-class passengers on its new Thailand-India flights and will compete directly with Thai Airways International, and two other Indian carriers, Jet Airways and Air India.