Thailand the same price/time priority rules as the

Futures Exchange (TFEX) is a subsidiary of the Stock Exchange of Thailand (SET)
and was established on May 17, 2004 as a derivatives exchange. TFEX uses the
same price/time priority rules as the equity market for order matching which refers
to how orders are prioritized for execution. Orders are first ranked according
to their price; orders of the same price are then ranked depending on when they
were entered. TFEX is allowed to trade Futures, Options and Options on Futures
where the permitted underlying assets are equities(i.e., index and stocks), debt(i.e.,
bonds mortgages and interest rate), commodities(i.e., gold, silver and crude
oil) and others(i.e., exchange rate and other as may be announce by the SEC).

finance, a derivative is a financial instruments. Futures contracts, forward
contracts, options, swaps, and warrants are common derivatives. A futures
contract  is a derivative because its
value is affected by the performance of the underlying contract. A stock option
is a derivative because its value is derived from that of the underlying stock.
While a derivative’s value is based on an asset, ownership of a derivative
doesn’t mean ownership of the asset. Derivative can be used for a number of
purposes, including insuring against price movements (hedging), increasing
exposure to price movements for speculation, etc.  

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Derivatives are required to use the trading name to
facilitate trading and adhere to universal principles. The name of the product
will contain initials, month and year of maturity. For example, s50z17, the
first two alphabets “S50” mean a SET50 Index Futures product that traded on
TFEX. SET50 Index was launched in 1995 and it is the first large-cap index of
Thailand to provide a benchmark of investment in the Stock Exchange of
Thailand. It is calculated from the stock prices of the top 50 listed companies
on SET in terms of large market capitalization, high liquidity. The last three
alphabets “z17” are month and year of maturity which code “z” use for December
and “17” denoted year 2017.