Launch of New RENTASRef No : 20 Sep 2016 Embargo : For immediate release
Bank Negara Malaysia, and its wholly-owned subsidiary MyClear, would like to announce that a new Real-time Gross Settlement and Debt Securities Depository (RENTAS) System was launched on 19 September 2016.
The launch of New RENTAS is the culmination of a multi-year effort to internationalise and modernise Malaysia's financial market infrastructures to support the settlement of wholesale payments and securities denominated in international currencies.
In line with the internationalisation objectives set out in Bank Negara Malaysia's Financial Sector Blueprint, New RENTAS has adopted global standards and is connected to SWIFT's worldwide messaging network. This initiative improves the accessibility and interconnectivity of Malaysia's financial markets. 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.
New RENTAS will offer comprehensive multi-currency settlement and debt securities depository capabilities with Ringgit, USD and Renminbi as the initially supported currencies. RENTAS' Renminbi settlement facilities for both funds and securities support Malaysia's role as a recognised offshore Renminbi clearing centre.
With the successful modernisation of a key component of the nation's financial market infrastructures, banks and market participants will have a strong foundation that they can build upon to create a critical mass of market activities in Malaysia. This allows the Malaysian financial system and Malaysian banks to play a larger role in facilitating international economic activity and intermediating international capital flows.
20 September 2016
About Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear)
MyClear, a wholly owned subsidiary of Bank Negara Malaysia, aims to accelerate Malaysia’s growth and prosperity, through the provision of world-class payment systems and financial market infrastructures.
We design, build and operate world-class payment systems and financial market infrastructures that safely, reliably and efficiently enable the functioning and development of Malaysia’s financial system as well as the economy as a whole.
Malaysian Electronic Clearing Corporation Sdn Bhd
(03) 2264 8689
© Bank Negara Malaysia, 2016. All rights reserved.