DEFINITION of 'Stock Exchange of Thailand (SET) .BK'
The securities trading center in Thailand. Along with its regulator, Thailand's own Securities and Exchange Commission, the SET is designed to encourage public investment in local industries through information dissemination, investor education, securities listing and trading, and oversight of listed companies. Opened in 1975 as the Securities Exchange of Thailand under legislation passed in 1974, its name changed to the Stock Exchange of Thailand in 1991.
BREAKING DOWN 'Stock Exchange of Thailand (SET) .BK'
Thailand's stated goals in establishing a securities market were to mobilize capital for national economic development and industrialization. The precursor to the Stock Exchange of Thailand was the privately owned Bangkok Stock Exchange. Established in 1962, it was the country's first official, regulated stock market. However, it saw little trading activity and eventually failed in the early 1970s because of limited investor understanding of the stock market and weak government support.