What is Bursa Trade Securities

A new improved Winscore system with new features that may be very relevant to you.

Just to let you know, there's a new improved Winscore system going to be launched very soon. Winscore is the terminal which your remiser or dealer key in your order. This new system is called Bursa Trade Securities (BTS).

There are some new features that may be very relevant to you.

Currently, a dealer can key-in order after 8.30 a.m. and 2.00 p.m. while the market still haven't open yet (the pre-opening session). Problem is, even if he key-in buy order at 2.01 p.m. with the price RM1.80 and somebody else key-in at 2.29 p.m. also at RM1.80, he doesn't have the priority even though he keyed-in order earlier. It's because when the market open at 2.30 pm, all the order will be randomly matched. It's going to change with BTS. Order keyed-in earlier in the pre-opening session will get the priority. By the way, the pre-opening price also will be more transparent.

If you are using technical analysis, the relationship between opening and closing is important. Thus, there are such candlestick patterns such hammer, hanging man etc. Closing and opening price also easy to manipulated and many time doesn't reflect the whole day event. For example, a counter can be traded with a million of units at RM2.80 but 100 units done at RM3.00 at seconds before closing time will determine the share's final price for the day, that is RM3.00. BTS will reduce this type of last second price manipulation (daily window dressing).

Instead of based on last done price of the day, the closing price will based on an algorithm. At 4.45 pm the market will enter into pre-closing period for 5 minutes where the theoretical closing price will be determined. After that, the market will enter closing period at 4.50 pm. The final closing price will be based on the theoretical closing price and price in the closing period. Thus, the opening and closing price will carry more weight.

This new system will improve a lot in other area such as it can take 1,3000 orders/second compare with current 200 order/second. The order matching will be more efficient.

Also, currently, you can only see 3 best price queuing, with Bursa Trade Securities you can see 5 best price queuing.

How soon this going to be implemented? Very soon. In fact you can hold your breath because it's going to be launched on 1st of December 2008. Thousand of remisers and dealers already sacrificed several of their Saturdays, taking part in the many testing since early of the year. Majority of PCs also be changed with the latest. Don't worry about the detail, you will know. Expect a grand launch of this event. Surely Bursa's people want you to know they are doing something good.