Bursa Malaysia Launches New Clearing System
Bursa Malaysia Derivatives Berhad (BMD) has announced the launch of its new derivatives clearing and settlement system.
The platform is web-based, and incorporates both straight-through processing (STP) and high levels of automation. Other functionality includes online real-time request and approval processes, and electronic delivery of settlement documents for clients.
Dato’ Tajuddin Atan, chief executive officer of Bursa Malaysia and chairman of BMD said: “Exchanges around the world are facing intense competition. In order for us to compete, we must actively pursue ways to reduce friction in the marketplace and create a more efficient trading, clearing and settlement environment. In this regard, the introduction of a new derivatives clearing and settlement system is in line with our strategy to improve the derivatives market eco-system with global electronic trading distribution and with more straight-through processing functionality and capability.”
This article was first published on waterstechnology