Post-Trade and Settlement - BRIDGe recommendations | Securities Commission Malaysia

Post-Trade and Settlement

#Trade&SettleOnline

The problem statement

Low adoption of e-contracts and e-statement
Online settlement for trades limited by daily online banking limit of up to RM 30-50k. Cheques are still used for large value transactions

The objective

To facilitate adoption of electronic notification of contract notes and statements
To enable higher online settlement limit for stockbroking, with enhanced settlement controls by brokers

Outcomes

1.

Move collectively towards full adoption of electronic contract notes and electronic statements through:

Issuance of SC's technical note to facilitate the delivery of electronic contract notes by brokers to clients
Issuance of directive by SC to all CMSL holders requiring them to expand their investor email address database to promote full adoption of electronic contract notes and electronic statements. (pdf)
In April 2020, Bursa launched an email collection campaign to get investors to register their emails for Bursa’s e-CDS statement through Bursa’s website

2.

Strengthen requirement of controls for brokers, as part of enabling higher daily transaction limits

Issuance of SC’s consultation paper to brokers to obtain feedback on proposed controls (pdf)

3.

Payment solutions to enable brokers to offer higher settlement limit

FPX's Merchant Specific Higher Transaction Limit
(For more information, please contact PayNet at [email protected])

List of banks currently offering higher daily online settlement limit of RM100,000 (as at 31 July 2020):

Affin Bank Berhad
Bank Islam Malaysia Berhad
HSBC Bank Malaysia Berhad
OCBC Bank (Malaysia) Berhad
Public Bank Berhad
RHB Bank Berhad

SC AFFILIATES

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about the SC

The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.

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General Email: [email protected]

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