For nearly a decade a noose has hung around the neck of the Malaysian securities lending industry. The Asian financial crisis led to a nasty ban on short selling, which has kept the industry at bay for years. The ban was lifted on 3 January last year and since then Malaysia has been working towards perfecting and implementing it's new stock borrow and loan (SBL) and regulated short selling (RSS) model. The only trouble is, it seems to be taking an awfully long time...
With last year's announcement, Malaysia introduced a central clearing agency (CLA) model implemented by Bursa Malaysia Berhad. In a previous interview with isf last year, Chief Executive Officer of Bursa Malaysia Dato' Yusli Mohamed said: "The government did want things done in an orderly fashion, and set certain conditions for our framework." At the time, the awkward clearing model was a necessary step to bring the...
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