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BURSA MALAYSIA RECEIVES APPROVAL FOR CDS ACCOUNT LIBERALISATION AND CLEARING FEE INCREASE.

BackJul 14, 2005

14 July 2005
BURSA MALAYSIA RECEIVES APPROVAL FOR CDS ACCOUNT LIBERALISATION AND CLEARING FEE INCREASE

Bursa Malaysia Berhad (Bursa Malaysia) is pleased to announce that it has today received approval from the authorities on the liberalisation of the Central Depository System (CDS) account structure.

Chief Executive Officer of Bursa Malaysia, Yusli Mohamed Yusoff said, "The move to liberalise CDS account is testimony to the proactive efforts on the part of the Malaysian authorities and regulators in promoting investor friendly trading environment, whereby investors can operate CDS accounts in a more flexible manner."

Amongst others, the liberalization will provide the following benefits to investors:

  • Efficiency in managing their portfolios as it would not be mandatory for them to open multiple CDS accounts;
  • Cost effectiveness when dealing in Malaysian securities, as there would be lesser CDS accounts to operate.

In conjunction with the CSD account liberalisation, the authorities have also approved the increase in the maximum clearing fee payable per contract from RM200 to RM500, whilst maintaining the rate at 0.04% of the contract value. The increase in the clearing fee cap is subject to the implementation of the CDS account structure liberalisation.

Bursa will work with the Securities Commission (SC) and market participants to implement the above as soon as practicable. The actual implementation date will be subject to the approval from SC on amendments to be made to the relevant rules and circulars of relevant Bursa's subsidiaries.

The impact arising from the liberalisation of the CDS account structure cannot be ascertained at this point. However, any adverse impact would be mitigated by the increase in the maximum clearing fee payable per contract.