The two boards will work separately and play different roles, in line with their areas of responsibility, he said.
The SRO board will be responsible for supervising the code of conduct for trade associate members, while the present board of directors is responsible for market development.
"The board is expected to spend time testing the new board for one year. After that we will amend the rules to honour the authority of the SRO board before becoming fully self-regulated," said Mr Niwat.
The TBMA expects total bonds issued this year of
Some 240 billion of private bonds will be for refinancing.
He also believes the political turmoil may delay bond issuance, but the effect should be limited if the protests do not linger.
Mr Niwat expects to see the unrest end in the next three months.
The TBMA remains focused on promoting the bond as an alternative instrument for private companies to mobilise funds.
This year, he expects over 10 private sector newcomers to issue bonds.
That would be close to last year's 14 new bond issues out of a total of 120 private bond issuances.
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