Bursa Malaysia Derivatives: Branches And Kiosks Enabled For Trading Participants Following Easing Of Requirements
Trading Participants (TP) can now widen their operations to any part of the country by setting up branches and kiosks to reach out to a wider market after several amendments were made to the Rules of Bursa Malaysia Derivatives (BMD).
BMD received the go-ahead from the Securities Commission for its TP’s branching and kiosks proposal which essentially allows a TP to establish a total of 10 branches and kiosks in the first two years, however not exceeding 5 branches per year, with the remaining as kiosks. In the third year of operations onwards, TPs will have the liberty of opening unlimited number of branches and kiosks.
Bursa Malaysia Chief Executive Officer Bursa and BMD Chairman, Dato’ Tajuddin Atan said, “The idea of TP Branching is essentially to extend their marketing reach and provide a platform for traders to discuss common areas of interest on derivatives trading. Traders can now meet their future broker representatives in branches and kiosks located in cities and towns that are closest to them and learn more about trading on BMD products through educational programs conducted by the TPs there.”