UBS has gone live on the NOVA settlement solution, supplied by Capital Market Solutions for the clearing and settlement of all exchange traded equities in Malaysia.

Commenting on the Malaysian project and relationship with CMS, Andrew Murfin, Executive Director, Head of Securities Operations, Asia Pacific of UBS, stated, "It has been a great achievement for UBS; to secure a trading licence, establish a local operation, and satisfy all of the local regulatory requirements and to implement the necessary systems within a four month timeframe. The success of the collaboration between UBS and CMS is one of the contributing factors in UBS meeting its go live date. The NOVA solution underpins our back office processing and settlement operations in Malaysia."

Ralph Horne, CEO for CMS stated, "CMS was delighted to have the opportunity of working with UBS on this project, and very satisfied with the successful outcome for both parties. The establishment of local support and a software development centre in Malaysia, enabled CMS to have the resources and expertise available on the ground in Malaysia to ensure that UBS would achieve its go live date."

Colin Camp, Business Development Director of Capital Market Solutions explained, "In committing to the Malaysian market over five years ago, CMS has established local expertise and tailored NOVA for the Malaysian market. NOVA is becoming a truly regional settlement solution as can be witnessed by interest across the region."

In the past several months, CMS has sold several NOVA licences in Malaysia, with all projects scheduled for completion in the coming months.