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Bursa to start new trading system Dec 1






BURSA Malaysia's expensive new trading platform for equities trading called Bursa Trade Securities (BTS) will go live on December 1, replacing an 18-year-old SCORE system.

The BTS project costs some RM100 million but Bursa Malaysia chief believes such an investment on an advanced trading sytem is not only imperative but also very timely.

"With the robust expansion of the Malaysia capital market, coupled with technology developments and contemporary trends in leading exchanges worldwide, it has become apparent that an advanced trading system is required in order for Bursa Malaysia not only to survive, but also thrive," chief executive officer Datuk Yusli Mohamed Yusof said.

He also said that the trading link plan between Bursa Malaysia and its Singaporean equivalent had been shelved.



Instead, Malaysia and Singapore are now working with four other key regional countries to introduce an inter-Asean trading link.

"This is the Asean governments' initiative. The implementation is expected to be done gradually within a few years," Yusli said at a news conference on the BTS in Kuala Lumpur yesterday.

He also said that the consolidation of Bursa Malaysia's main and second boards remains intact.

"The Securities Commission is leading the project and it should make an announcement in the first quarter of 2009."

The launch of BTS will signal the completion of Bursa Malaysia's integrated Bursa Trade trading system to give better access for local and international investors, enhanced market efficiency and transparency.

BTS enables real-time and continuous matching of orders compared to 10-second matching order under the current SCORE system.

The system's launch is subject to a successful pre-live testing with market participants scheduled on November 29.





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