TSD: Malyasia bourse completes first blockchain PoC for securities lending

Bursa Malaysia has completed its first securities borrowing and lending proof-of-concept (SBL PoC 1) blockchain technology solution. It was executed and tested with technology partner Forms Syntron Information, a subsidiary of Shenzhen Stock Exchange-listed Shenzhen Forms Syntron Information, and industry collaborators Affin Hwang Investment Bank, CGSCIMB Securities, Citibank, Kumpulan Wang Persaraan and Malacca Securities, according to an article published by The Sun Daily.

A first of its kind in ASEAN, SBL POC 1 was executed using an agile methodology comprising robust design thinking, development and testing stages for a private-permissioned blockchain-driven SBL lending pool.

It has secure, shared ledgers and smart contracts which enable instant and automated update of asset status. Information stored in the ledger, like records of trade negotiations and order confirmations, are immutable, auditable and traceable. It avoids the need for manual reconciliation, which may introduce errors due to disparate methods of trade negotiation and order confirmation recording.

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