Bursa Malaysia Bhd (Bursa Malaysia) has replaced its existing market surveillance systems for its equity and derivatives markets with the Millennium SurveillanceTM System.

The new system came into effect December 31 last year.

In a statement here, Bursa Malaysia's Chief Executive Officer Datuk Tajuddin Atan said that with the prevailing size, complexities and level of technical sophistication of markets, stock exchange regulators were faced with the challenge of effective supervision of a dynamic capital market.

Effective surveillance would be vital for a well-functioning capital market, he said, adding that Bursa Malaysia's new system was a multi-asset, cross-market, flexible platform, which allowed for swifter implementation of changes in response to trading behaviours and regulatory developments.

The system also includes a comprehensive market replay capability to reconstruct trading activities as they occur, allowing each transaction and its effects on the market to be closely reviewed.