KUALA LUMPUR, July 30 -- Following the July 16 trading halt on the local stock exchange, the Securities Commission (SC) has instructed Bursa Malaysia Bhd to conduct a thorough systems review, including scalability, resilience and recoverability, to minimise the risk of further issues in the future.
The SC said it had reviewed the incident report and met with Bursa Malaysia's senior officials to assess the measures being taken to address the situation.
“In view of the critical role they play in our market, it is vital that their systems remain resilient and always available.
“It is important they adopt best practices and latest technology to ensure continued seamless market operations,” chairman Datuk Syed Zaid Albar said in a statement today.
On July 16, trading on Bursa Malaysia Securities was halted at 3:30 pm due to a technical issue.
This was the second system glitch resulting in a trading halt in seven months. Trading was also halted in the last 15 minutes of trading hours on Dec 19.
Syed Zaid said the SC took occurrences of technical glitch at its market infrastructures, including Bursa Malaysia, very seriously.
Notwithstanding Bursa Malaysia management's assurance to the commission that the problem had been rectified, the SC directed the exchange operator to do the thorough systems review.
The SC said it would continue to closely engage with Bursa Malaysia, as well as other market participants and stakeholders, to ensure that the overall trading ecosystem and market intermediaries were offering reliable service to investors and end users.
Malaysia National News Agency
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