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Securities Services

MyClear offers comprehensive end-to-end securities services encompassing securities issuance, depository and settlement.  We provides a centralised book-entry system for the issue, custody and transfer of securities in a scripless form. The transfer of securities can be made through a delivery-versus-payment (DVP) basis or free-of-payment (FOP). In addition, the security services also cover corporate actions in relation to payment of coupon or interest redemption and payment of withholding tax (only in limited cases).

The systems that support securities services are Fully Automated System for Issuing / Tendering (FAST) and Real-time Electronic Transfer of Funds and Securities System (RENTAS).  FAST  is a web-based system that facilitates the issuance of unlisted debt securities and money market instruments regardless of the tenure and mode of issuance (tender and non-tender). FAST also interfaces with RENTAS to facilitate the primary market settlement, which includes the issuance of scripless securities, and with Bursa Malaysia’s Electronic Trading Platform for the reporting of secondary trading involving debt securities.

Depository Services

MyClear provides securities depository services for Government securities, BNM papers and Private Debt securities, both conventional and Islamic principle. We are currently the world’s largest depository of Sukuk instruments worth RM326 billion.

Our systems record and maintain securities ownership at the members’ level by registering transfers following market activities without physical movements of the securities. The transfer of securities ownerships are done through a centralized electronic book-entry system.

As central depository, MyClear allows settlement of securities from the primary and secondary market activities. The former includes the transactions associated with the first time the securities are issued and allotted while the latter covers transactions of participants of the central depository for their own trades or on behalf of clients.  As the custodian and paying agent for the debt securities, it is also responsible for corporate actions involving debt securities and coupon payment.

To support the MIFC’s agenda to make Malaysia the centre of origination, distribution and trading for Sukuk, the securities depository system has been enhanced to accommodate USD securities depository. The first USD denominated bond amounted to USD10 million was issued by Perisai Petroleum Teknologi Berhad on 27 October 2009. To complement corporate actions for USD securities settlements, MyClear has appointed a panel of settlement agents for this purpose.

Unlisted debt securities in FAST are deposited centrally in the Scripless Securities Depository System (SSDS).