Bursa Malaysia, formerly known as Kuala Lumpur Stock Exchange, has migrated to a new Millennium Surveillance System, replacing its existing market surveillance systems for equity and derivatives markets.
Developed by Colombo based MilleniumIT, the new platform is a unified ‘cross market’ surveillance platform for both the equity and derivatives markets.
It will help the stock exchange to create a more facilitative trading environment and protect investors while ensuring a fair and orderly market, according to the technology provider.
Bursa Malaysia chief executive officer Dato’ Tajuddin Atan said, "Effective surveillance is an essential requirement for a well-functioning capital market that emphasises investor protection and market integrity."
Millennium Surveillance is a multi-asset, cross-market, flexible platform, which allows for faster implementation of changes in response to trading behaviors and regulatory developments.
In order to promptly reconstruct trading activities of the market as it occurs, it is equipped with a comprehensive market replay capability, which allows each transaction and its effects on the market to be closely reviewed.
It will also enable the exchange to identify trading behavior patterns swiftly at both the broker and investor levels.