Process Flow

Main Activity

 

	1.Instrument Issuance :         1.1 The issuer of government debt securities does not obtain the SEC         approval of offering and selling the new issue.         1.2 ISIN Code         - For government bonds and state enterprise bonds (the BOT serving as an         official registrar), the BOT will apply to the TSD for ISIN Code         - For other state enterprise bonds, the SEC will apply to the TSD for          ISIN Code         1.3 The ThaiBMA registers the instrument.
	2.Offering in the Primary Market :         2.1 The offering of Government Bond:         - The BOT sells the government bonds to retail investors through          commercial banks and the Government Saving Bank.          For institution investors, the BOT uses e-bidding instead.          - The PDMO will select the guarantor who offers the best condition          (open-auction method) to sell the state enterprise bonds to retail investors.         2.2 Investors transfer the money through bank accounts for clearing process         and deposit the securities at the TSD or custodians. In case of depositing         the securities at custodians, the custodian will deposit the securities to         the TSD consequently (at a later stage).
	3.Trading in the Secondary Market :          3.1 The SET lists Government Debt Securities in the secondary          market – the BEX          3.2 There are two trading options in the secondary market.          - Trading in the exchange market – the BEX          - Trading in the over – the – counter (OTC) market          3.3 Dealers report the result of government debt securities trading to         the ThaiBMA          3.4 The clearing and settlement process can be done through          the TCH          3.5 In case of changing any term after offering/trading, the issuer must         report the amendment of rights, duties, liabilities or guarantees to         the SEC and the ThaiBMA and that amendment must consistent with         provisions and terms of rights and duties.
	4.Interest Payment:         4.1 The registrar as the representative of issuers pays interest to debt         securities holders. The payment will be in line with the issuers’ declaration.
	5.Maturity of Instrument :         5.1 Payment of the principal for redemption to debt securities holders shall         be done by the registrar at the maturity time.