The missing piece

Thailand’s stock exchange has been preparing to launch an equity options contract for several years, but it has now changed tack and is focusing its efforts on a bond futures contract. Nick Sawyer reports from Bangkok

First-time visitors to Bangkok are struck by the constant chock-a-block traffic, choking pollution and often-seedy nightlife. In comparison with this bustling metropolis, Thailand’s Bangkok-based derivatives market has been relatively hushed, dominated by small, plain vanilla, over-the-counter forex and interest rate swaps deals. But just as the Thai tourist board is looking to clean up Bangkok’s image, so Thailand’s financial overlords hope to renovate the derivatives market – and they don’t