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Bursa Malaysia implements ISO 20022 for corporate announcements

Source: Bursa Malaysia

Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) 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.

Commenting on the successful implementation, Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia said, “The adoption of ISO 20022 has significant benefits for individual firms and the capital market as a whole. For the Exchange, the enhanced data-carrying 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.”

Eddie Haddad, Managing Director of Asia Pacific, SWIFT, said: "The financial industry is increasingly embracing ISO 20022 as a financial messaging standard for both payments and securities due to its ability to capture richer data, flexibility and machine-readable format. We are excited to see Bursa Malaysia adopting the standard as it will not only transform the
corporate announcements flow in Malaysia, but also favour interoperability with other market places and foster innovation.”

“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,” said Aloysius Wee, Head of HSBC Securities Services, HSBC Bank Malaysia.

Dato' Ahmad Kadis, Managing Director of KAF Equities Sdn. Bhd. (formerly known as KAF-Seagroatt & Campbell Securities Sdn. Bhd.) said, “We greatly appreciate and would like to thank Bursa Malaysia’s team for its continuing efforts and work towards improving its services through the implementation of ISO 20022. With this recognition, corporate announcements on listed companies issued by Bursa Malaysia’s can now be disseminated globally."

“The 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,” said Yu Hong Tin, Chief Operating Officer/Head of Operations of M & A Securities Sdn Bhd.

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.

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