BNM, MYCLEAR LAUNCH NEW RENTAS SYS­TEM

The Sun (Malaysia) - - SUNBIZ -

KUALA LUMPUR: Bank Ne­gara Malaysia (BNM) and its wholly owned sub­sidiary Malaysian Elec­tronic Clear­ing Cor­po­ra­tion Sdn Bhd (MyClear) has launched a new Real-time Gross Set­tle­ment and Debt Se­cu­ri­ties De­pos­i­tory (Rentas) Sys­tem. Rentas has now adopted global stan­dards and is con­nected to the So­ci­ety for World­wide In­ter­bank Fi­nan­cial Telecom­mu­ni­ca­tion’s (Swift) world­wide mes­sag­ing net­work. With the launch of new Rentas, Malaysian banks as well as off­shore fi­nan­cial in­sti­tu­tions will en­joy cost-ef­fec­tive, ef­fi­cient, and se­cure ac­cess to Malaysia’s fi­nan­cial mar­ket in­fra­struc­tures via Swift’s in­ter­na­tional net­work. The new Rentas will of­fer com­pre­hen­sive multi-cur­rency set­tle­ment and debt se­cu­ri­ties de­pos­i­tory ca­pa­bil­i­ties with ring­git, US dol­lar and ren­minbi as the ini­tially sup­ported cur­ren­cies.

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