The Stock Exchange of Thailand (SET) and Nasdaq have announced an expansion of their strategic technology partnership, aimed at modernising Thailand’s capital markets and enhancing overall market resilience, transparency, and regulatory alignment.
As part of the expanded collaboration, SET will promote broader adoption of Nasdaq’s risk and surveillance platforms among its member firms. This follows SET’s own implementation of these tools as part of its ongoing efforts to drive greater consistency and efficiency across the Thai market ecosystem. The move is intended to support a unified market infrastructure and enable more robust risk management practices in line with international standards.
The risk and surveillance platforms form part of Nasdaq’s broader Market Technology suite, which delivers infrastructure solutions for exchanges, clearing houses, central securities depositories, regulators, and other financial institutions globally. These platforms provide real-time monitoring, risk assessment, and detection capabilities for potentially manipulative or abusive trading activity, critical features for maintaining market integrity.
“Nasdaq operates two surveillance platforms, based on consistent underlying architecture and functionality, but adapted to specific client needs,” Tony Sio, Head of Regulatory Strategy and Innovation, Nasdaq, explains to TradingTech Insight. “Nasdaq Market Surveillance, which is used by regulators and exchanges globally to oversee their markets, and Nasdaq Trade Surveillance, which serves banks and brokers to monitor both client and proprietary trading through the systems. SET has a long-established partnership with Nasdaq Market Surveillance, while Nasdaq Trading Surveillance will be promoted across its member community. With its ecosystem operating consistent technology, with aligned methodologies, alerts and reports, it will facilitate more extensive and efficient oversight of the market, helping to strengthen the markets’ systems and controls.”
He continues: “Nasdaq has invested heavily in the platform, releasing new versions, new capabilities, and new technologies on a regular basis. This investment keeps the platforms at the forefront of both regulatory and technology change. Additionally, as a predominately cloud-native platform clients benefit from regular updates and our ongoing R&D program, which includes how we can integrate AI functionality to reduce false positives and accelerate investigations. For example, we have developed a new AI-powered feature that will significantly enhance the quality, speed, and efficiency of market abuse investigations. The solution leverages generative AI to streamline the triage and examination process involved in investigating suspected market manipulation and insider dealing, empowering regulator and marketplace clients to more effectively monitor and detect potential market abuse.”
Nasdaq’s solutions are particularly valued in emerging and mid-sized markets seeking to build investor confidence and attract foreign investment. Recent adoptions by the Bermuda Stock Exchange, Nigeria Exchange Group, Bolsa de Santiago, and Abu Dhabi Securities Exchange highlight the growing global relevance of these technologies, particularly in jurisdictions prioritising transparency and operational resilience. SET’s endorsement of Nasdaq’s platforms is aligned with this broader trend and reflects a strategic commitment to enhancing Thailand’s capital markets through advanced technology. The partnership also includes collaboration on further innovation opportunities across the region, leveraging SET’s local expertise and Nasdaq’s cloud infrastructure and managed service capabilities.
Together, SET and Nasdaq aim to build a future-ready capital market ecosystem that supports Thailand’s ambitions to become a leading financial and innovation hub in Southeast Asia.
“Resilience and integrity are essential to vibrant capital markets, attracting international investment,” comments Asadej Kongsiri, President of the Stock Exchange of Thailand. “By adopting Nasdaq’s advanced risk and surveillance solutions and promoting them across our member community, we’re strengthening the foundation for prudent risk management, capital efficiency, and investor trust. This integrated approach enhances our ability to detect market abuse, monitor high-frequency trading and short-selling activities, and reinforce Thailand’s leadership position in ASEAN’s capital markets.”
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