In the first round of Sandbox application during February – March 2023, the SEC welcomed the main operator of the digital infrastructure (DIF) platform, issuers and relevant market participants to participate in the testing of the DIF web portal that supports primary market activities of debt securities to ensure efficiency of interoperation standards before full-scale operation. 

The web portal development has just been completed and is ready to go live to provide services to actual users. Starting today, the DIF web portal allows filing for approval of bond offerings with the SEC. In the initial stage, only plain vanilla bonds with non-complex structure offering to private placement are allowed.

In the first round of DIF Sandbox, there were 18 participants** consisting of issuers, intermediaries (both securities companies and commercial banks), the Thailand Securities  depository (TSD), the Thai Bond Market Association (ThaiBMA) and CMDF Digital Infrastructure Company Limited, which is the main operator of the DIF web portal. The second round of Sandbox application submission will be opened soon.

The DIF web portal is the initial module of the development of the Thai capital market digital infrastructure that originated in 2019 by the SEC with support from the Thailand Capital Market Development Fund (CMDF). The objective of this project is to develop digitalization of capital market processes to ensure efficiency, speed and security, reduce costs and facilitate capital market access for fundraisers and investors, as well as provide regulators with useful information for development of industry and capital market and effective supervision. The DIF Web Portal Initiative is also part of the Thai Capital Market Development Plan No. 4 (2022-2027): Digital Transformation of the Capital Market.

Remarks:

* Sandbox means a project that allows system testing with actual users under a limited risk environment to ensure that the system will be able to operate on a continuing basis and efficiently before a full-scale operation in due course.

**The participants of the DIF Web Portal Sandbox are as follows: 

Group 1 : Issuers 

1.        Kasikornbank Public Company Limited (issuer and intermediary)

2.        Kiatnakin Phatra Bank Public Company Limited (issuer and intermediary)

3.        Toyota Leasing (Thailand) Company Limited

4.        PTT Public Company Limited

5.        PTT Treasury Center Company Limited

6.        PTT Global Chemical Public Company Limited

Group 2 : Intermediaries and others

7.        Bank of Ayudhya Public Company Limited

8.        Bangkok Bank Public Company Limited

9.        Krungthai Bank Public Company Limited

10.      TISCO Bank Public Company Limited

11.      Siam Commercial Bank Public Company Limited

12.      Standard Chartered (Thai) Public Company Limited

13.      Krungsri Capital Securities Public Company Limited

14.      Kasikornthai Securities Public Company Limited

15.      Kiatnakin Phatra Securities Public Company Limited

16.      Thailand Securities Depository Company Limited

17.      The Thai Bond Market Association

Group 3 : The main operator of DIF platform

18. CMDF Digital Infrastructure Company Limited managed by the Stock Exchange of Thailand, the Thai Bankers Association and the Association of Thai Securities Companies.