Bursa Malaysia Depository: Improved Efficiency In Depository Operations Through eRAPID

Bursa Malaysia Depository Sdn Bhd will launch eRAPID, a web-based solution which will facilitate electronic transmission of Record of Depositors (RODs) and Central Depository System (CDS) Circulars. eRAPID, which will improve turnaround time for dissemination of RODs and enhance overall efficiency of Depository operations has received approval from the Securities Commission (SC) and will be launched later this month.

Head of Clearing, Settlement & Depository of Bursa Malaysia, Cheah Sin Keat said that eRAPID will provide a level playing field to all issuers, share registrars, issuing houses, authorized depository agents and members regardless of geographical borders

“Parties requesting for RODs will be able to receive them within minutes by simply downloading the information from the website as opposed to days, even weeks when using manual or courier distribution of the information, saved on disks.

“CDS Circulars will also be available online via eRAPID, providing Issuers, Share Registrars, Issuing Houses, Authorised Depository Agents and Members faster access to announcements on CDS.

“Outstation issuers and share registrars will benefit from the efficiency in downloading shareholders information thus expedite corporate exercise processing for dividends and bonus issues. In further enhancing CDS services, eRAPID will be expanded to facilitate the verification of allotment files in the near future. The CDS system will verify contents of the allotment file and the verification result will be sent to the user. The verification process will continue until all records in the allotment file are error free,” Cheah said.