Amid an investment world filled with uncertainty—from trade wars and geopolitical issues to global asset volatility,
"Generating returns" alone may no longer suffice, as investors increasingly require "risk management tools" alongside their investments to protect their wealth.
This is the core concept that Triwit Wangvorawut, Managing Director of the Thailand Futures Exchange Public Company Limited (TFEX), shared in an exclusive interview with Thairath Money,
reflecting the new direction of Thailand's derivatives market as it transitions from being seen primarily as a venue for speculation to becoming a foundational infrastructure for investor risk management.
Triwit explained that TFEX’s goal is not merely to increase trading volume but to enable Thai investors to use derivative instruments more correctly and effectively. A key mission is to "change Thai investors’ perspectives."
Many investors have traditionally viewed the derivatives market as a place for short-term speculation, but in truth, TFEX’s essence lies in serving as a hedging or risk management tool.
The world is changing rapidly. Traditional investment advice—such as buying gold or holding cash during war—may no longer be effective because past asset correlations are breaking down.
Therefore, investors should not rely solely on "safe havens" but need more flexible risk management tools.
Thus, as the newest Managing Director of TFEX in 2026, Triwit’s mission is to lay foundational groundwork rather than merely expanding the market. This involves reviewing regulations, systems, and collaboration with member companies and brokers to close gaps and enhance efficiency in preparation for growth.
Without a strong infrastructure, increasing investor numbers alone will not lead to sustainable growth.
TFEX’s main mission is not just to increase derivative trading activity but to raise awareness among Thai investors about risk management. In today’s investment world, success is not measured solely by who achieves the highest returns, but by who best preserves wealth amid volatility.
Triwit explained that TFEX was created to work alongside investment assets like stocks, funds, or gold—for example, using futures to hedge stock portfolios or currency futures to mitigate foreign exchange risks.
He compared investing in assets like stocks or gold to using a "pencil" to draw one’s wealth picture, but along the way, mistakes or uncontrollable events can occur.
TFEX acts as an "eraser," helping investors correct, adjust, and refine their strategies as situations change.
In an uncertain investment world, risk management tools may not be used daily, but during crises, they become essential in preserving the overall investment picture.
Another key mission is changing how TFEX communicates with investors. Historically, TFEX has presented products in a product-centric manner—explaining features of investment instruments like Gold Futures, Single Stock Futures, or Options.
In the future, TFEX will shift to focusing on the value proposition, starting communication from the investor’s life goals, which is expected to improve understanding and accessibility for Thai investors.
Triwit noted that young workers or first-time jobbers may seek to build initial capital and accept higher risks, while others may prioritize wealth preservation or risk reduction, such as those nearing retirement.
Therefore, offering the same product to everyone is no longer adequate. Delivering a value proposition reflects that TFEX isn’t selling just the act of going long or short but the "value" investors receive.
He cited examples: long-term stockholders who do not seek to speculate with futures but want to protect their portfolios during market corrections; investors in foreign stocks who worry not only about stock prices but also the Thai baht exchange rate.
These cases represent the true value TFEX sees in derivatives as tools beyond mere speculation.
Success won’t be measured solely by daily contract volumes but by the day Thai investors start seeing TFEX as part of their investment planning.
The TFEX Managing Director is confident that once risk management tools become "normal" for investors, the user base will naturally grow.
Currently, TFEX investors make up less than 10% of all investors in the Thai stock market, indicating substantial room for growth by helping general investors understand how TFEX can enhance portfolio management.
Statistics show TFEX’s investor base continues to expand: by the end of 2025, there were 402,230 TFEX accounts, increasing to 422,163 by June 2026—an addition of 19,933 accounts in the first half of the year—reflecting growing interest in using derivatives for portfolio management.
Triwit emphasized that many investors find TFEX complex not because of the products themselves but due to unfamiliarity with derivative mechanisms, especially margin systems and position management.
With proper education, investors will realize these tools are designed not to increase risk but to offer more flexible risk management options to be used when markets are volatile.
He likened learning TFEX investing to learning to ride a bicycle—it may seem difficult at first, but once understood, investors can naturally deploy the tools when needed.
"Gaining these skills benefits you personally. Whether or not you use them, you’ll know how to use them and have an escape route when necessary," Triwit said.
This transition goes beyond changing mindset and communication; it is concretely reflected in platform upgrades, product development, and knowledge creation to make TFEX investing more accessible to all investor groups.
At the same time, infrastructure improvements are evident in rising trading activity. As of 13 July 2026, TFEX’s average daily trading volume was 551,684 contracts—a 32.5% increase since early 2026.
Triwit explained that a key mechanism driving this mission is ensuring TFEX has both "breadth" and "depth," with comprehensive features to enable efficient portfolio management.
In 2026, TFEX launched the "Combination Order"—an order type that bundles buy and sell orders into a single submission—alongside the "Strategy Builder," a tool for creating customized investment strategies.
This allows investors to place orders for two series simultaneously, constructing a strategy tailored to their risk-return preferences, addressing those seeking flexible risk frameworks.
For example, an investor wanting to buy put options to hedge portfolio risk who expects a moderate market decline can use Combination Orders to cap maximum profit in exchange for lower premium costs.
This feature is currently available on the Streaming platform for computers, with plans to release a mobile app version by 2027.
TFEX is also expanding product capabilities by developing and offering assets beyond stocks, including precious metals, commodities, and shorter-term contracts like weekly futures, to provide more investor choices.
They are also reducing contract sizes, such as the recently launched Mini Gold Online Futures, allowing investors with limited capital to start risk management without excessive burden.
Additionally, TFEX focuses on liquidity solutions by closely collaborating with market makers to ensure investors can enter and exit positions efficiently at fair prices.
Triwit added that to meet changing behaviors, investment goals, and attract younger generations, TFEX plans to introduce Cryptocurrency Futures in the first quarter of 2027.
The launch will initially feature two major coins, Bitcoin and Ethereum, which represent 50-60% of the global market and are popular among Thai investors.
This tool will allow existing cryptocurrency holders to hedge risks and lock in prices effectively during market volatility.
What Triwit aims to change is not just TFEX’s image but Thai investors' mindset—from solely seeking returns to recognizing risk management as a crucial element in building and preserving long-term wealth.
In today’s investment world, winners may not be those with the highest profits but those who best preserve wealth amid uncertainty.
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