The settlement rate of 99.9% is within the range normally experienced under the previous T+5 delivery and settlement period. The transition from T+5 to T+3, which shortens the delivery and settlement period for securities transactions from five (5) market days to three (3) market days, was implemented on Wednesday, 20 December 2000. Excluding non-market days of the weekend and Christmas Holiday, Tuesday, 26 December 2000 is the first settlement day under the T+3 delivery and settlement period.
KLSE Executive Chairman Dato’ Mohd Azlan Hashim said the successful transition from T+5 to T+3 is an indication of readiness of participants in the securities industry for the shorter delivery and settlement period.
"The success of this effort is due to the high degree of joint co-operation and teamwork between KLSE, Securities Commission and industry participants, including stockbroking companies and custodian banks.
"With T+3 in place, industry participants are now ready to move forward and fully benefit from this enhancement to the delivery and settlement period.
"On the part of KLSE, we will continue to monitor the progress of T+3 to ensure its continued efficiency," he said.
The T+3 delivery and settlement period has been developed and implemented after extensive consultation, testing and simulation exercises with industry participants. With the implementation of T+3, KLSE will join other developed bourses that are compliant with international best practices of a T+3 delivery and settlement period.
To ensure industry participants and investors are fully informed on the shorter delivery and settlement period, full details on T+3 are available on the KLSE Web-site at www.klse.com.my. Brochures in both Bahasa Malaysia and English, containing similar information have also been made available at all stockbroking companies since 4 December 2000.
For general enquiries on T+3, investors may continue to contact KLSE via its helpline: Monday to Friday, 9:00 a.m. to 5:00 p.m., Telephone : 03-468 0755 (Hunting Line), Facsimile : 03-206 3700, E-mail : commsdept@klse.com.my
Investors with specific enquiries on their transactions are advised to contact the respective stockbroking companies directly. For specific enquiries, the contact details for stockbroking companies are available at the KLSE website at www.klse.com.my.
