GMO-Z com Securities (Thailand) Public Company Limited has sent a letter to its clients regarding the decision to cease all brokerage operations, marking a significant transition in its business strategy, as per reporters.
However, there has not been any official statements made by the company via its official website.
According to the letter, the company advises customers to transfer their securities to an alternative provider, ensuring a smooth transition without incurring any share transfer fees.
From March 3, 2025, clients will no longer be able to make cash deposits nor transfer shares into existing trading accounts. Accounts that hold no residual assets will subsequently be closed. Starting from May 2, 2025, the ability to purchase new securities in these accounts will also be suspended, alongside the introduction of any administrative fees that may ensue from account maintenance.
Previously, the company had communicated the discontinuation of margin account services effective December 20, 2024, yet assured that cash balance accounts will continue to operate without disruption. However, trading of Depositary Receipt linked to the European Union market (DR EU) will be halted as of February 3, 2025.
Meanwhile, instruments tied to the Asian markets (DR Asia) will remain unaffected and continue as part of the company’s standard offerings. Z.com extends gratitude to its clients for utilizing EU market services and encourages the sale or transfer of any remaining DR EU holdings before the termination date.
