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Bursa Malaysia revamps, liberalises derivatives market rules & directives
Last update: 14/08/2019

KUALA LUMPUR, Aug 14 (Bernama) -- Bursa Malaysia Bhd has revamped the Rules and Directives of Bursa Malaysia Derivatives Bhd (BMD) and Bursa Malaysia Derivatives Clearing Bhd (BMDC) to enhance business efficiency and flexibility of doing business in the local derivatives market, effective Aug 15.

In a statement today, Bursa Malaysia said trading participants and clearing participants would be able to reduce their cost of doing business and provide better services to their clients, whilst strengthening their governance framework and providing better investor protection. 

It said the revamped Rules and Directives of BMD and BMDC will foster a number of improvements, among others, reduced regulatory burden and liberalised regulatory framework that accords greater flexibilities towards the participants’ dealings to manage and operate their business whilst ensuring adequate investor safeguards in place.

“The revamp will strengthen the governance framework for the participants, which in turn promotes better conduct and self-regulation.

“It gives clearer, more straightforward and streamlined rules to ease compliance.

“Enhancements have also been made to improve efficiency in processes, application and reporting requirements, as well as towards better management by BMDC of systemic risks and addressing instances of defaults and emergency situations, thus promoting investor protection and enhancing market confidence as a whole,” it said.

Bursa Malaysia said the revamped rules were in tandem with its balanced and facilitative approach to promote market development whilst ensuring its regulatory objectives in maintaining market integrity and investor protection are not compromised.

“The flexibility and liberalisations put in place under the revamp will enhance the attractiveness and competitiveness of the Malaysian derivatives market.

“At the same time, it is hoped that through this revamp, the standards for conduct and governance of the participants will be elevated and consistent with the equities market, where appropriate,” it added. 

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Source: Bank Negara Malaysia

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