Two systems are involved in debt Securities processing, namely FAST and RENTAS.
In addition, eSSDS, which is a part of RENTAS, is used for the computation of corporate actions involving Debt Securities and issuance of retail bonds.
These operational procedures apply to all RENTAS debt securities approved by securities commission of Malaysia, debt securities issued by Malaysian government.
And apply to other approved Debt Securities or money market instruments which are denominated in ringgit Malaysia (RM) or any other foreign currency.
Securities deposited with MLY CB under the cross-border securities custody services (CSCS) are excluded from the scope of these operational procedures.
Purpose
These procedures are intended to equip participants with an effective operating knowledge of the entire process from origination until final maturity of debt securities.
Cover new issuances, allotment, reopening, coupon/interest/dividend/profit payment, redemption and settlement of debt securities via FAST, eSSDS and RENTAS.
Effectiveness
The operating procedures came into effect on Jul. 1, 2021.
Jan. 4, 2022 Version 1.1
On Jan. 4, 2022, MLY CB issued v1.1 of Operational procedures for securities services.
Revised the definition for RENTAS and FAST Development fund in glossary item 64.
Aug. 2022 Version 1.2
On Aug. 1, 2022, MLY CB issued v1.2 of Operational procedures for securities services.
Guideline IV supplementary guideline on co-existence of RENTAS ISO20022, ISO15022 added to furnish MX message information for clauses with MT message information.
Jun. 2024 Version 1.3
On Jun. 25, 2024, MLY CB issued Operational procedures for securities services v1.3.
Removed internet as an option to access FAST, added SWIFT; added requirement for subscription of secured private communication network for participants to access FAST.
Added new clause to provide base for activation of contingency terminals in MLY CB's designated premise, incorporated clauses in Guideline IV into this document.
Version 1.3 of the operational procedures is effective from Jul. 1, 2024.
Document dated Jun. 25, 2024, received from MLY CB Jun. 28, summarized on Jul. 3.
Revised the submission of yield-to-maturity (YTM) for corporate bonds and sukuk (CBS) to daily basis in clauses 5.7.2, 5.7.4, which will be effective from Jan. 1, 2025.
Updated the definition for expected holiday, unexpected holiday, and business day.
Added FAST contingency terminal fee for activation of terminal by participants in BNM designated premise; operation procedures v1.4 will be effective from Nov. 1, 2024.
