Recommendation 1 Recommendation 2 Recommendation 3 Recommendation 4

Recommendation 5 Recommendation 6 Recommendation 7 Recommendation 8

Market selection

Recommendation 3

The industry worldwide must satisfy the need for efficient, fast settlement by full adherence to the International Securities Numbering process (ISO 6166) and uniform usage of ISO 15022 based standards for all securities messages. The industry should seek to introduce a global client and counterpart identification methodology (BIC - ISO 9362) to further facilitate straight through processing. Applications and programmes should be structured in such a way as to facilitate open inter-action between all parties.

1.	Does the market use ISIN as the primary securities identification code?	KLSE provides securities identification in two forms: KLSE Stock Codes and ISIN. ISIN codes for KLSE-listed securities are furnished to the Association of National Numbering Agencies (ANNA) on a regular basis and to investors upon request.
2.	Are the major participants in the market linked electronically?	Yes.
3.	Does the depository communicate using true (i.e. not bilaterally agreed on sub-standards) ISO standards for securities messaging?	No. MCD communicates with its ADAs and ADMs and SCANS communicates with its clearing members using their own messaging system.
4.	Does the market operate standard identification codes for counterparties or client accounts and, if so, how do (or could) these fit into a single global identification methodology?	No, MCD identifies its depositors by using their Company Registration number, National Registration number / Passport number. The account holder will be assigned with a CDS account number by MCD. Likewise, SCANS identifies its clearing members through its own coding system which is similar to the ADA / ADM codes being used by the Depository.