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.
"Exchanges around the world are facing intense competition," says Dato' Tajuddin Atan, chief executive officer of Bursa Malaysia and chairman of BMD. "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."
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