Cross border trading for stocks is here, next STP for Bursamalaysia Derivatives

The BNM forex relaxation on Malaysian residents investing overseas has seen stockbroking firms like CIMB provide cross border trading of stocks to its customers. The technology is already in place. All that remains is for Bursamalaysia to roll out the Bursatrade, then DMA (Direct Market Access), where direct STP (straight through processing) for trading Bursa products will open up to the rest of the world. Hopefully then Bursa will see the explosion in volume (the big bang) other world markets experienced with DMA introduction. The 2 Oct 2006 launch of Bursatrade encountered teething problems, with the launch delayed. Hopefully the software boffins at Bursa can get their act together and successfully launch Bursatrade for derivatives. (then 3Q 2007 for equities) Once launched, Bursa aims to provide the DMA access for brokers like CIMB, who already have the technology in place.