Day Count
| Instrument |
Day Count |
| Ringgit Interbank Deposits |
Act / 365 |
| Negotiable Instruments of Deposits (NIDs) |
Act / 365 |
| Bankers Acceptances (BA) |
Act / 365 |
| Interest Rate Swap (IRS) |
Act / 365 |
| Repurchase Agreement |
Act / 365 |
| SSTS Securities: |
|
| Malaysian Government Securities (MGS) |
Act/ Act |
| Malaysian Government Investment Issues (MGII) |
Act/ Act |
| Malaysian Government Treasury Bills (MTB) |
Act / 365 |
| Malaysian Government Islamic Treasury Bills MiTB) |
Act / 365 |
| Bank Negara Monetary Notes - Discount Based (BNMN-DB) |
Act / 365 |
| Bank Negara Monetary Notes - Coupon Based (BNMN-CB) |
Act/ Act |
| Bank Negara Monetary Notes - Floating (BNMNF) |
Act / 365 |
| Bank Negara Monetary Notes - Islamic Discount Based (BNMN-iDB) |
Act / 365 |
| Bank Negara Monetary Notes - Islamic Profit Based (BNMN-iPB) |
Act/ Act |
| Corporate Bond and Sukuk |
Act / 365 |
| Khazanah |
Act/ Act |
| Cagamas |
Act / 365 |
| CPs/MTNs |
Act / 365 |
Trading Hours
|
|
Type of trades |
| Same Day |
Standard (T+1/T+2) & Forward (>T+2) |
|
Trading hours:
Morning Session
Afternoon Session
|
|
9 a.m. - 12.30 p.m.
2.30 p.m. - 5.00 p.m.
|
|
Settlement Cut-off time
|
by 5.30 p. m.
|
by 11.00 a.m. on value date
|
|
Confirmation of trades (before noon/ after-noon)
|
<12.15 p.m. / <3.15 p.m.
|
< 5.00 p.m. on trade date
|
|
Confirmation / Rejection of Unconfirmed advice (before noon/ after-noon)
|
< 2.00 p.m. / < 4.00 p.m.
|
< 5.30 p.m. on trade date
|
|
Settlement after the cut-off time on the same value date is considered a delayed payment while settlement not executed by close of the business day on the value date is considered failed.
|
Delayed or Failed Settlement
In the settlement process for securities under Delivery vs Payment system, seller will need to prove that at the official cut-off time it has sufficient securities in the securities account. Notice for delayed settlement must be done by 2.00 p.m. on value date while for failed settlement; notice must be done by 9.30 a.m. on the next business day.
If delayed or failed settlement causes a breach in regulatory requirements, compensation will also include any penalty imposed by BNM. In cases where the buyer is at fault, the seller can claim for the lost of interest or recalculate the proceeds for zero coupon bonds. In case where the seller is at fault, the buyer can claim on the amount due, the seller can not keep the accrued interest and no recalculation of proceeds for zero coupon bonds.
For more information Payment System.
Trading Convention
General Market Rules
| Securities |
Trading Basis |
Standard Amount |
Standard Value date |
|
BNMNs & MTBs (Discount Based)
|
Yield
|
RM50 mio
|
T+1(Tom)
|
|
BNMNs (Coupon/ Profit Based/ Floater)
|
Price
|
RM5 mil
|
T+2 (Spot)
|
|
MGS & MGII
|
Price
|
RM10 mil
|
T+2 (Spot)
|
|
Conventional Corporate Bond
|
Price
|
RM5 mil
|
T+2 (Spot)
|
|
Islamic Sukuk
|
Price
|
RM5 mil
|
T+2 (Spot)
|
Holiday Convention
| |
Government and BNM Papers |
Corporate Bond and Sukuk |
| Interest Payment |
Redemption |
Interest Payment |
Redemption |
|
Expected Holiday
|
+1
|
+1
|
+1, but if month end,-1
|
-1
|
|
Unexpected Holiday
|
+1
|
+1
|
+1
|
+1
|
| |
Interest unadjusted
|
Interest adjusted
|
|
Month-end rule applies if the holiday declared on the last business day of the month in which case the new value date will be the working business day prior to the month end
|
| |
Government and BNM Papers |
Corporate Bond and Sukuk |
| Tender Date |
Issue Date |
Tender Date |
Issue Date |
|
Expected Holiday
|
-
|
-
|
-
|
-
|
|
Unexpected Holiday
|
+1, falls on issue date
|
Only adjust first interest payment
|
+1, falls on issue date
|
only adjust first interest payment
|
| |
Interest unadjusted
|
Interest adjusted
|
|
If both tender and issue dates are unexpected holidays, both dates shall +1, with adjustments on tenor and calculation on proceeds. The maturity date is not adjusted.
|
Standard Amount
| Instrument |
Tenor |
Standard Amount |
|
FX Spot MYR
|
|
USD 5 mil
|
|
FX Swap
|
|
USD 20 mil
|
|
Cross currency basis or cross currency swap (CCS)
|
1 to 5 years
|
USD 20 mil
|
|
Above 5 years
|
USD 10 mil
|
|
Money market conventional or Islamic
|
Overnight
|
MYR 10 mil
|
|
1 week to 1 year
|
MYR 30 mil
|
|
MYR Interest Rate Swap
|
1 to 5 years
|
MYR 50 mil
|
|
Above 5 years
|
MYR 30 mil
|
|
Malaysian government securities (MGS/MGII)
|
|
MYR 10 mil
|
|
All bills, including Islamic
|
|
MYR 50 mil
|
|
Bank Negara Interbank Bills-Foreign (BNIBF)
|
|
USD 10 mil
|
|
Corporate bonds, including govt guaranteed (GG)
|
|
MYR 5 mil
|
Short Term Bills Trading Maturity Bucket
| Band |
Remaining Maturity (Days) |
|
Band 1
|
Up to 21
|
|
Band 2
|
22 to 43
|
|
Band 3
|
44 to 67
|
|
Band 4
|
68 to 91
|
|
Band 5
|
92 to 131
|
|
Band 6
|
132 to 171
|
|
Band 7
|
172 to 211
|
|
Band 8
|
212 to 261
|
|
Band 9
|
262 to 311
|
|
Band 10
|
312 to 365
|