BANGKOK, July 4 (Reuters) - Veteran politician Wan Muhamad Noor Matha of Thailand's Prachachart Party looked set to be confirmed as speaker of the new House of Representatives after being the only name put forward for the post on Tuesday.

Wan Noor's nomination is seen widely as a compromise between the two biggest parties and alliance partners Move Forward and Pheu Thai, which have been at odds over the crucial post.

As the only nomination, no house vote is required to endorse Wan Noor. The house speaker position was sought because the holder can influence the passage of key legislation and the timing of votes.

The compromise over house speaker could help to defuse some tensions between the two biggest parties which had jostled for weeks over the speakership.

"I will conduct duties fairly ... with transparency in considering draft laws and petitions to improve the lives of all Thais," Wan Noor said after his nomination.

Once he takes up the post, among his first tasks will be to table a vote of the bicameral parliament on a prime minister to form the next government.

The progressive Move Forward and populist Pheu Thai parties trounced their conservative and pro-military rivals in the May 14 poll, winning 151 and 141 seats respectively, in what was seen as a resounding rejection of nine years of government led or backed by the army.

Move Forward and Pheu Thai have formed an alliance with six other parties.

Big parties back Thailand's Wan Noor as sole nomination for house speaker