Development of the financial markets.The purpose of the development of the financial markets.Financial markets are an important element of the economic system as a mechanism to propel economic activity to be carried out smoothly as people with money and people who want to come to meet and agree on loan or trading of securities or other instruments, so between formats. Development of the financial markets, it is intended to let financial markets can act as a financial intermediary that is effective. The financial market that can act effectively would require depth and width, that is, there is a wide variety of issuers to have an item, select a lot and there is a risk of the different credit. At the same time, it has many and varied types of investors to make demand for yield and risk characteristics that are different. Issuers and investors in every conceivable category To view multiple market direction, thus making a change of trading financial assets are choosing. The market's flexibility and can accommodate large amounts of transactions without a price. How financial markets such as the is considered to have high liquidity. Because the instrument can be traded to change hands as soon as possible at very reasonable prices. In addition, a system of payment of the price and delivery of effective as the major contributors to the cost of a transaction under the. In addition Financial markets with high liquidity. The bot can use financial markets as a channel for monetary policy, and transmission of such policies to the economy as a whole in order to ensure that interest rates and inflation target is met. It is for this reason that the BOT and relevant agencies have jointly developed financial markets in order to achieve the objectives mentioned above.The elements of the financial markets.Financial markets can be divided according to the objectives and forms of transaction has multiple sections, with each section having a relationship, and are closely linked together. Both sides yields the player Transaction quantity and level of development.1. foreign currency market is a market for foreign exchange trading. In General, in the Over-the-Counter (OTC) style, where the action will be in Thai commercial bank registered and permitted by BOT acting foreign exchange with customers to facilitate investment and trade between the countries. Both foreign and Thai commercial banks are major players in this market, the foreign exchange transaction in Thai under the Act to control the exchange of 13 original rules 2485 (1942) (2497 (1954)) including the Ministry announced a cash exchange control officer.Yonngoen and a circular exchange control officer involved in General, the type of foreign currency transaction contains the transaction immediately. Transactions transaction payroll advances sawo international instruments and derivative transactions, Foreign Currency Options and FX Swaps, Cross currency tools foreign currency market, such as FX Swap is closely related to the financial instruments in the money market, such as Repo and Interbank staffs.It is a tool used in short-term loans since July 2, 1997, etc. Thai country changed the rate system The floating exchange value of the baht currency versus other currencies. Determined by market forces based on supply and demand in foreign markets, both domestic and foreign, and can change up and down based on economic fundamentals.2. money market as the market for loans and short-term investments not exceeding 1 year to manage liquidity in the money market transactions are short-lived, mainly including a loan transaction unsecured interbank. Purchase-sale of short-term debt instruments such as bonds, Treasury bills, promissory notes, and the bot, bills of Exchange and purchase transactions which return a transaction that the bot made to a financial institution that is a Primary Bilateral Repo transactions referred to Dealers and transactions in the private sector make among themselves. Also known as purchase transactions back in the private sector or Private Repo, etc in the year 2547 (2004) bot is pushing to create a line reference interest rate for interbank loans or short-term BIBOR (Interbank Offered Rates Bangkok) for use as a reference rate for borrowing transactions in the money market as well as a reference rate for instruments with floating interest rates. In addition to commercial banks and other financial market players, including other financial institutions, large companies, large State enterprises, business.3. the bond market is the market for funding, and long-term savings that are longer than 1 year by issuing bond debt issuers and investors will have the same relationship as the receivables and Payables. The investors will receive compensation at the rate of rupdokbia according to the schedule, and clearly. And get back the principal when the bond is due.Issuers of debt sales for fundraising is considered as the first market in bond debt acquisition portion that has been issued to an investment or savings achieved by buying directly from the first on the market, or you can buy it from other investors, known as trading in the secondary market in debt instruments that.Can be divided according to the characteristics of the issuer as a 2 parent categories: public sector debt and private sector debt instruments. It can be issued as a debt and local currency or foreign currency only. In addition, they can also choose how to pay interest, such as fixed-rate bond interest rate is floating with respect to the reference index or the inflation rate, etc. are the factors for consideration of debt that will be issued for many reasons. As global interest rates. Inflation The needs of investors. The purpose of the net cash flow and funding the issuer expects to receive in the future, etc. The base of players in the bond market relatively better players in financial markets. In addition to financial institutions, large corporations and institutions to individuals and legal entities, as well as a general savings (individual investors) by the Government, and the bot has separate savings bond debt issued to financial institutions and sales ...
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