Malaysia launches settlement platform with Hong Kong and Euroclear Bank

Bank Negara Malaysia will utilize a pilot platform for cross-border investment and settlement of debt securities.

This was jointly launched with the Hong Kong Monetary Authorityand Euroclear Bank.

It will be to be operational on March 30.

The pilot platform is designed to enhance cross-border debt securities settlement efficiency and strengthen the capacity for debt securities issuance activities in the Asian region, according to a joint statement.

"Through the pilot platform, investors in Hong Kong and Malaysia can buy and hold foreign debt securities and settle cross-border transactions on a delivery-versus-payment basis while local and international bond issuers can issue a wide range of debt securities.

"The pilot platform also includes a comprehensive debt securities database of Asian debt securities maintained by Euroclear Bank," it added.

The platform signified an important step for Asian bond markets, supported by an international central securities depository, to collaboratively strengthen post-trade infrastructure, they said.

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