KGiSL, a global IT products, services and solutions provider, has secured a contract from the Stock Exchange of Thailand (SET), one of the largest stock exchanges in ASEAN, to provide a broker back office platform.
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.
Dolphin, the leading back office platform in India, caters to 60 per cent 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 five 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, says: “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 revolutionise 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,” says: 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.”
