KUALA LUMPUR: Bursa Malaysia Securities Clearing Sdn Bhd has set up a Clearing Guarantee Fund (CGF) to guarantee settlement of trades when there is a payment or delivery default by its trading clearing participants (TCPs).
The fund, which will be in operation July 1, will consist of a pool of assets such as cash, bank guarantees and other financial resources, Bursa Malaysia Bhd
chief executive officer Yusli Mohamed Yusoff said in a statement yesterday.
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