KUALA LUMPUR, 31 March 2020 – Bursa Malaysia Berhad (Bursa Malaysia) has successfully implemented ISO 20022 messaging standards for corporate announcements by Public Listed Companies (PLCs).
Joining other exchanges around the world such as the Australian Securities Exchange, Singapore Exchange, Indonesia Stock Exchange and Tokyo Stock Exchange, the ISO 20022 message is an international standard accepted and adopted around the world.
“The adoption of ISO 20022 has significant benefits for individual firms and the capital market as a whole. For the Exchange, the enhanced datacarrying capability of ISO 20022 messages will act as an enabler to deliver more innovative and competitive services for our stakeholders. Applying global best practice in messaging standards will also place us on par with other developed exchanges.”
Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia
Aloysius Wee, Head of HSBC Securities Services, HSBC Bank Malaysia added that HSBC supports the ISO 20022 messaging standards as its adoption will enable the Malaysian market to be more efficient in achieving higher Straight-Through-Processing (STP) and will provide global institutional clients with consistent and timely corporate announcements from PLCs and Issuers.
Moreover, such developments are vital to enhancing the country’s competitiveness and standing in the regional marketplace while simultaneously improving the overall investor and client experience in Malaysia.
Yu Hong Tin, Chief Operating Officer/Head of Operations of M & A Securities Sdn Bhd claimed that implementation of ISO 20022 allows for straight-through delivery of corporate announcements to subscribers within seconds of the announcement made to the broader market, this increases the efficiency in the processing of corporate announcements.
The adoption and implementation of ISO 20022 by Bursa Malaysia will be in phases with PLCs’ corporate announcements as the first key area of prioritisation, which was successfully completed on 9 March 2020.
Read more: Understanding the Risks of Synthetic ETFs