Kuala Lumpur , 31 December 2007
New stockbroking commission rate structure to take effect on 1 Jan 2008
Pursuant to the announcement in Budget 2008, the following measures to ensure a more competitive commission rate structure will take effect from 1 January 2008:
This initiative is part of a phased approach towards a more deregulated, competitive and vibrant stockmarket environment. In this regard, the new measures will allow brokers to provide customers the choice of the cost-efficiencies offered by internet trading and the personal and customized service offered by dealer representatives. This creates an environment which ensures that the pricing of services are appropriate to the level of services rendered.
Overall, the gradual deregulation of pricing structures is intended to provide industry the flexibility to offer greater choice to a broader range of customers as well as to create a more competitive environment for the provision of intermediation services.