AFET Announces 2015 Business Plan – Gearing Up To Be An International Futures Exchange
The Agricultural Futures Exchange of Thailand (AFET), stepping into its 2nd decade with a new “AFET VISION 2020” strategy, is ready to elevate to an international agricultural futures exchange.
Mr. Wiwat Teerawanichpong, President – The Agricultural Futures Exchange of Thailand (AFET), has announced that AFET had planned, as they were stepping into their 2nd operational decade, to elevate themselves to become one of the international agricultural futures exchanges. Having a continual growth of revenue, client base, expanding numbers of listed futures contracts, and a better research and development on those futures contracts were as well parts of the plans. Important missions to be executed during this 2nd decade were as follows,
Improving all corporate strategies, including re-polishing corporate structure to tackle all of those obstacles that AFET had faced with during the past 10 years by refining personnel – the most important resource to drive the organization to success; enhancing work processes by reducing unnecessary procedures in order to be competitive in the fast-paced business world; and reinforcing a firm-trust to all the parties involved – farmers, and both domestic and international investors – in order for them to gain more confidence in futures trading and hedging in the exchange.
AFET, moreover, would move forward with a 5-year plan under “AFET VISION 2020” strategy to elevate the exchange to become an international agricultural futures market by concreting corporate foundation; and to be competitive with other futures exchanges. The detailed plans were, for examples, improving the trading system for Mobile Trading; adjusting trading fees; creating competitiveness among members’ brokerage houses by implementing Rewarding Program; refining rules and regulations to facilitate hedgers and investors; and expanding trading board with regional higher potential agricultural products to attract more international investors.
AFET, to compete in the international arena in the long run, would begin adjusting its corporate standards to benchmark with world-renowned exchanges, such as CME (Chicago Mercantile Exchange), and to eventually be recognized as a World Class Commodity Exchange in 2020.
