Digital On-Boarding
#OpenAccountOnline
The problem statement
  • Application to open trading and CDS accounts still mostly require face-to-face interaction
  • Application to open CDS account requires wet signature
The objective
  • To enable investors with the option to apply for both trading and CDS account online, with a fully digital experience
Outcome
1.
Enabling Participating Organisations (POs) to offer non-face-to-face verification for online trading and CDS account opening
  • Amendments to Bursa’s Directive No. 5-001 (Directive On Conduct Of Business) in relation to the requirements on account opening and client onboarding which facilitates non-face-to-face verification for the opening of trading accounts

2.

Removing the need for wet signature when opening CDS account
  • Amendment to the Rules of Bursa Depositories Sdn Bhd to enable submission of applications to open a securities account via CDS eServices

List of brokers offering online account opening (as at 31 July 2020):
  • Malacca Securities (Klang Valley only)
  • Rakuten Trade
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