GMO-Z.com Securities obtains Thai securities business license

Maria Nikolova

GMO-Z.com Securities (Thailand) Limited has obtained a securities business license type A and derivatives business license type Sor-1 from the Securities and Exchange Commission of Thailand.

GMO-Z.com Securities (Thailand) Limited, a subsidiary of GMO Internet Inc. (TYO:9449), has made another important business step by obtaining a securities business license type A and derivatives business license type Sor-1 from the Securities and Exchange Commission of Thailand.

In an official announcement today, company said its full-scale business is expected to be launched in November 2017. In parallel, GMO-Z.com Securities (Thailand) Limited is applying to be a member of a number of organizations – the Stock Exchange of Thailand, Thailand Clearing House Co., Ltd., Thailand Securities Depository Co., Ltd., Association of Thai Securities Companies, and Securities Investor Protection Fund.

The number of GMO Internet’s subsidiaries continues to grow. One of the latest additions to this family is GMO-Z.com Coin. The fully fledged launch of the virtual currency business took place on May 31, 2017, after some delay that was blamed on the growing trading volumes of bitcoin and the necessary system adjustments stemming from this.

Z.com, the domain that GMO Internet bought for smashing $6.8 million back in the fall of 2014, now includes a number of securities trading businesses, including brands like GMO-Z.com Bullion HK Ltd, GMO-Z.com Forex HK Ltd, and GMO-Z.com Trade UK Ltd.

A recent in-depth investigation by FinanceFeeds into the Thai Forex industry has shed light on some important business aspects in this location. Along with most of South East Asia, the opportunity for genuine, good quality business in Thailand is now emerging, the investigation has shown. One particular firm, based in Asia, that provides liquidity to retail brokerages, explained to FinanceFeeds back then “We consider Thailand to actually be of greater value as a potential customer base than Indonesia or Malaysia, two emerging markets which are a focus for many firms these days.”

“Unlike a few years ago, there are more high net worth traders in Thailand now than ever. Many of these traders are highly sophisticated and they will know whether a brokerage is b-booking their trades, and will want a specialist service so that they can be sure how their trades are being executed”, the source said.

A source at another brokerage commented:

“There is a very sophisticated strata of traders in this region, starting from $100,000 minimum deposit, who build their own black box systems and know how a Prime of Prime works and how to analyze the execution of their trades. Around 25% are arb traders so that is consistent world wide, however in Thailand most of the arb traders are trading the DAX”.

Read this next

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

<