Singapore/Hong Kong, 9 December 2021 – Bursa Malaysia won Exchange of the Year in the 4th Regulation Asia Awards for Excellence 2021 at an online ceremony on 9 December 2021.
Across its three markets, Bursa Malaysia is home to 948 publicly listed companies, the largest number in ASEAN. It also has a thriving Shariah-compliant securities market, and operates a derivatives exchange which features the most liquid crude palm oil futures contract in the world. As a market operator and regulator, Bursa Malaysia also provides post-trade services (i.e. clearing, settlement, depository services), robust technology infrastructure, and comprehensive information services (i.e. market data and indices).
Amid the pandemic, Bursa Malaysia adapted to the new environment quickly, providing fee waivers for listing applicants and expanding its digital touchpoints to keep the marketplace accessible under lockdown conditions, while also implementing real-time surveillance tools to mitigate the risks from increased internet trading and the use of algo-based decision making. Bursa Malaysia was also able to continue its investor education sessions and listing ceremonies virtually and via social media, reaching an even broader audience than it did previously.
Aside from its robust pandemic response, Bursa Malaysia has been addressing investors’ needs by requiring listed companies to make sustainability-related disclosures in their annual reports, expanding its ESG and Shariah Index portfolio, and promoting market education on sustainability and ESG investment. Work is also underway to enhance sustainability reporting practices and establish a Shariah-compliant voluntary carbon market and trading platform to support Malaysia’s transition to net zero emissions.
“Bursa Malaysia itself plans to become carbon neutral in 2022 and achieve net zero emissions by 2050, demonstrating its climate action leadership,” said Brad Maclean, co-founder of Regulation Asia. “On top of its ESG initiatives, Bursa Malaysia is establishing strategic partnerships with other exchanges, creating a conducive environment for innovation, and leveraging new and emerging technologies such as blockchain to enhance its operations and processes – which will only accelerate its already fast-paced growth.”
Bursa Malaysia is also working to provide a more supportive ecosystem for international derivatives investors, including by introducing T+1 night trading and allowing remote membership – which will eliminate the cost of interbroker relationships and local operations for global players.
“Bursa Malaysia winning the Exchange of the Year is a strong recognition of the Exchange’s efforts and initiatives. The credit goes to the entire team at Bursa Malaysia who have made winning this Award possible,” said Datuk Muhamad Umar Swift, Chief Executive Officer, Bursa Malaysia Berhad.
“Despite challenges posed by the global pandemic, Bursa Malaysia was able to perform in areas of Islamic investments, palm oil futures, and sustainability. This Award will further encourage us to greater heights, as we continue to widen our reach and offerings while maintaining a fair and orderly market for all participants to grow.”
About the Regulation Asia Awards for Excellence 2021
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help to ensure the highest standards for regulatory compliance are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.
For a full list of the award 2021 winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. With over 12,000 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.