Which exchange operates Thailand’s Market for Alternative Investment, known by the abbreviation mai?

The Stock Exchange of Thailand operates Thailand’s Market for Alternative Investment, known by the abbreviation mai.

The mai market was established as part of Thailand’s securities-market framework to give smaller and growing businesses access to public capital. It is operated by the Stock Exchange of Thailand, or SET, rather than being a wholly separate national exchange.

Companies listed on mai generally have different size, operating-history, or business-development profiles from firms on SET’s main market. The alternative market therefore gives investors access to a broader range of Thai businesses while retaining exchange-based listing and disclosure requirements.

A common mix-up is to treat mai as the name of Thailand’s entire exchange. In fact, SET is the exchange organization, while mai is one of the markets it operates. Thailand also has separate instruments and market segments, but those do not change the identity of the operator.