A report issued some years ago by the Securities Exchange of Thailand (SET) described well the forces leading to the creation of that institution. It has been evolved as an economic institution in Thailand in answer to the internal requirements of a fledgling modern economy which has emerged as a result of economic development and industrialization efforts. The report pointed to the growing share of industry in the country’s economy and to the Government’s policy of relying on private initiative. It then concluded that the pressure for the development of an organized capital market to help in the financing process became evident during the 1960’s