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BURSA MALAYSIA TO IMPLEMENT DAY ORDER FOR INCREASED EFFICIENCY

11 Apr 2011

Bursa Malaysia Berhad will implement validity-of-order throughout the day via Day Order effective 18 April 2011, replacing the current Session Order. This change is made for increased efficiency and to meet market expectations.

Currently all orders entered into the trading system is valid for a single session only as all unmatched orders are cancelled by Bursa Malaysia immediately after the end of the morning session. Thereafter, brokers are required to re-key in their orders in the afternoon session at 2:00pm when the market re-opens for the Pre-Opening phase.

With the implementation of Day Order, all unmatched orders from the morning session will be automatically carried forward to the afternoon session and shall be considered as valid for the whole trading day. Brokers are only required to manually cancel the orders after 2:00pm if they do not wish to carry the orders into the afternoon session.

There will be no change to the current trading hours.

The benefits of the implementation of Day Order include:

In line with the implementation of Day Order, a single trading limit shall be applied for the whole trading day. The single trading limit will be at 30% or 30 sen as follows:

Trading Limits (except new listings)

PriceLimit UpLimit Down
Above RM1.00 30% 30%
Below RM1.00 30 sen 30 sen


Trading Limits for new Listing (including Initial Public Offering)

PriceLimit UpLimit Down
Above RM1.00 400% 30%
Below RM1.00
 
400% or 30 sen whichever is higher  
30 sen