PETALING JAYA: The Securities Commission Malaysia (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 following the trading halt on the local stock exchange on July 16, 2020.
SC chairman Datuk Syed Zaid Albar said the SC has reviewed the incident report and met with senior officials of Bursa Malaysia to assess the measures being taken to address the situation.
This is the second system glitch resulting in a trading halt that has occurred in seven months. Trading was also halted in the last 15 minutes of trading hours on Dec 19, 2019.
“We take occurrences of technical glitch at our market infrastructures including Bursa Malaysia very seriously. 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. The management of Bursa Malaysia has assured the SC that the problem has been rectified,” he said in a statement today.
The SC will 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 are offering reliable service to investors and end users.