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Non-Broker Participants

This section provides a list of Associate Participants.

DCP

DCP

All applicants are requested to carefully study the Rules of Bursa Clearing (D) before submitting their application. The Rules set out the rights and obligations of all Clearing Participants.

Requirement

The applicant shall amongst others,

  • be a company or corporation with a minimum paid up capital of RM2 million.
  • be a participant of Bursa Malaysia Derivatives Berhad.
  • maintain Net Tangible Assets of not less than RM5 million, or a corporate guarantee of not less than RM5 million, at all times.
  • not carry out the business of futures broking in Malaysia.
  • satisfy the Clearing House that it has an adequate back office system, staff and procedures to ensure orderly and expeditious accounting of its dealings in Derivatives.

Application to Bursa Clearing (D)

The applicant shall submit to Bursa Clearing (D) the following:

  1. Cover letter detailing the approvals sought addressed to Bursa Clearing (D).
  2. Duly completed Form of Application for registration as Direct Clearing Participant and to be accompanied with:
    1. a. Certified true copies of the constitution, if any, or any other constituent documents, of the applicant company and if any, its corporate shareholders (if any); copies of the applicant’s constitution, if any or other constituent documents evidencing the applicant’s:
      1. directors and shareholders; and
      2. paid-up capital;
    2. b. such documents and information as may be appropriate in respect of its financial standing such as:
      1. Auditor’s Certification;
      2. Balance Sheet; and
  3. Notice of registration;
  4. Notification of change in the Register of Directors, Manager and Secretaries;
  5. Notice of registration of the new name (if applicable);
  6. Return of allotment of shares;
  7. Notification for change in the registered address (if relevant);
  8. Particulars of change or alteration relating to foreign company (if relevant), or similar documents of its nature;
  9. Applicant’s board’s resolution authorizing the application; and
  10. Any other documents that may be required or relevant to the application.

Approval-in-Principle

Where the application is successful, Bursa Clearing (D) will grant its approval-in-principle for the registration of the company as a Direct Clearing Participant of Bursa Clearing (D) subject to the applicants' meeting among others, the following:

  1. The applicant being registered as a participant of Bursa Malaysia Derivatives Berhad;
  2. The applicant has successfully undergone the relevant readiness assessment to be conducted by Bursa Clearing (D);
  3. Lodgement of RM1,000,000 Security Deposit with Bursa Clearing (D);
  4. Contribution of RM1,000,000 to Bursa Clearing (D)'s Clearing Fund;
  5. Payment of the relevant fees i.e. RM6,000 registration fee;
  6. The applicant executing the prescribed tripartite settlement bank agreement between the applicant, Bursa Clearing (D) and the settlement bank;
  7. The applicant complying with the requirement of the Rules of Bursa Clearing (D) including any directives, notices, circulars, guidelines and schedules issued by Bursa Clearing (D)and with other laws, rules and
  8. procedures that are applicable to it;

Readiness Assessment

The applicant is required to undergo a readiness assessment, which scope, criteria and manners will be prescribed by the Bursa Clearing (D).

Registration with Bursa Clearing (D)

Once the applicant has duly completed all the conditions and the requirement of the Rules of Bursa Clearing (D), it will be registered as a Direct Clearing Participant of Bursa Clearing (D) at the same time with its registration as a Associate Participant of Bursa Malaysia Derivatives Berhad.

Fees applicable to Direct Clearing Participant

Fees applicable to Direct Clearing Participant
Type Amount
Joining Fee RM6,000

Contact

Head, Participants Affairs
Participants Supervision
Regulations

Bursa Malaysia Berhad 12th Floor, Exchange Square
50200 Kuala Lumpur
(603) 2034 7242 (DL), (603) 2034 7000, (603) 2034 4999 (General Line)
(603) 2026 3685
IAD@bursamalaysia.com
www.bursamalaysia.com

ABFM Supplementary FAQs (15/5/06)
58.6 KB (PDF)