GMO-Z.com Securities (Thailand) Limited, a subsidiary of GMO Internet Inc. (TYO:9449), has officially launched its full-scale operations in Thailand, just three months after it secured the license for its online securities brokerage company.
Earlier in July, the Securities Exchange Commission (SEC) of Thailand, which also regulates forex trading in the country, granted the company a Type-A license for its securities business segment. An additional Type Sor-1 license has been granted to the brokerage, allowing it to provide derivatives trading.
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Megumu Motohisa, CEO of Z.com Securities, announced that customers can open accounts with the company starting today.
The operator of the largest retail FX brokerage in Japan is venturing into the Thai market as it intends to further expand its operations across the Asia-Pacific region. At this stage, GMO Click expects only minor effects on the company’s consolidated results, but the exact results will be disclosed in the future.
The new brand operates from Bangkok, the capital of and the most populous city in Thailand. Meanwhile, GMO expects to bump investments of nearly 100 million Thai baht (about $3 million).
Z.Com securities is one of the 128 subsidiaries of GMO Internet Group, Japan. It was established in Thailand last year. The group has more than 5000 employees in its fold and has nine listed subsidiaries on the Tokyo Stock Exchange.