Date for new minimum commission rates deferred

THE implementation date for the new minimum commission rates to be adopted by the stockbroking industry has been deferred by a week to May 19, the Association of Stockbroking Companies Malaysia (ASCM) said yesterday. The deferment was due to a delay in determining the final minimum commission rates for interbroker trades following concerns raised by foreign brokers.  

A statement from the ASCM said its members had studied and discussed at length the concerns raised, and had since reverted to the Securities Commission (SC) with a proposal.