The coupon payments will credit into the respective currency cash account automatically upon receipt from issuers. Generally, it takes 1 - 5 working days to process the coupon payment.

FSMOne acts as an intermediary in the bonds market and we do not participate in the primary market. Kindly refer to the transaction flow below.

Primary Bond Market

Bonds that are issued to the public for the first time in the primary bond market. For example, Malaysian Government Securities are sold at auctions through primary dealers in the primary bond market.

Secondary Bond Market

After the bonds have been sold in the primary market, they can be traded in the secondary market. The secondary market may be the exchange where the bonds are listed (for retail bond issues), or the over-the-counter (OTC) market.

There are no restrictions on non-Malaysia residents in purchasing bonds except for U.S. citizens / residents.

No. You can sell your bonds before it matures and the selling price is subject to market conditions.

Bond prices are available on the individual bond factsheets. 

Bond Express is a one-of-a-kind marketplace by FSMOne to trade smaller lot sizes as low as 1,000 nominals via firm and instantly executable prices all day long.

As the principal, FSMOne performs due diligences on the bonds offered on BondExpress and regularly provides research updates on the issuers.

Over-the-counter trading involves dealing through an intermediary dealer at the open OTC market with other counterparties and the process is not immediate.

Trading on Bond Express allows you to buy and sell bonds based on directly observable live prices subject to the live (bid and asks) volumes.

FSMOne is the price and volume maker and acts as the principal to these trades.

Retail Bonds

Ringgit bonds eligible under the Securities Commission Seasoned Corporate Bonds and Sukuk Framework. They are available to non-sophisticated individuals (no declaration needed) and is generally deemed as higher quality issuances.

Wholesale Bonds

Bonds including ringgits and foreign currencies and they are offered to sophisticated investors (self-declaration).

FSMOne will be voting on behalf of non-standard lot holders as custodians only recognize standard full lot for voting.

However, we will communicate corporate action event details and the voting rationale to all non-standard lot holders via email directly.

The price reflected on Bond Express is the bid / ask price that can be transacted immediately, while the price reflected on Bond Info is an indicative price.

Bondsupermart Live is a real-time bond trading marketplace where investors can buy and sell bonds directly with other investors. This centralized marketplace is regulated by the Securities Commission of Malaysia and provides a more transparent and efficient way to trade bonds.

Summary:

• Bondsupermart Live – A centralized marketplace where your orders are dynamically matched with other investors, market makers*, and counterparties.
• Bond Express – A marketplace where your orders can be executed at a firm bid/ask price set by the principal*, subjected to the availability of the bid/ask volume.
• OTC (Over-the-Counter) – A marketplace where trades are done through an intermediary dealer and counterparties, which the process is not immediate and efficient.

Note: *iFAST deals as a Principal for all the Bond Express trades and may act as a market maker for certain Bonsupermart Live trades.

Trading Hours (Monday – Friday)

Market Holidays

Bondsupermart Live is closed when both Singapore and Hong Kong markets are on public holidays.

• Orders placed during market holidays will be processed as next-day trades.
• These orders will be automatically queued once the market reopens.

Yes, GTD orders allow you to keep an order open until your target price is met or until the order expires.

No, GTD orders do not have additional charges as long as they are filled on the same trading day.

However, if a GTD order is partially filled across multiple days, the standard processing fees will apply separately for each day the order is filled.

For example, if part of your GTD order is filled today and the remaining portion is filled the next trading day, each day's filled portion will be subject to the respective day’s processing fees.

Trade amalgamation automatically combines multiple trades to reduce processing fees and lower your average trade price.

To qualify for amalgamation, the orders must:

• Be for the same bond and same payment method
• Be on the same side (i.e., all buys or all sells)
• Be filled on the same trading day

Amalgamation is applied at the end of the trading day, and any excess processing fees from earlier trades will be returned to the payment method you selected.

You may click on Research & Tools >> Bond Selector to view on the bond list for order placement.

For Bond Express (small lot), you will require to click on the filter of "Express Trade" and check on the availability of bond express by referring to the ask volume. If there is no ask volume available for the respective bond, you are not able to place the order under the bond express. 

For Wholesale Bonds

The formula is: [(Nominal Value * Indicative Price) / 100] + Indicative Accrued Interest + Processing Fee (based on nominal value)

Example:

Bond Name: AAREIT 4.350% 05Dec2019 Corp (SGD)

Nominal Value: SGD 250,000

Indicative Price: SGD 105.69

Indicative Accrued Interest: SGD 4,772.92

Order Placement Date: 11th of Nov 2016

Processing Fee: 0.5% of nominal value, or subject to min SGD 35

 [(SGD 250,000 * 105.69) / 100] + SGD 4,772.92 + (250,000 * 0.5%)

= 264,225.00 + 4,772.92 + 1,250.00

= SGD 270,247.92 (estimated amount payable)

= SGD 278,355.36 (final estimated amount after 3% buffer)

Important Note:

We will include 3% buffer into the final estimated payment amount when you place the buy order online. This buffer is to cater for changes in market prices, accrued interest and / or fluctuation in currency conversion. The residue amount will be credited back to your cash account.

For bond express transaction involving no foreign exchange conversion, no buffer is taken.

 For Retail Bonds

The formula is: [(Nominal Value * Indicative Price) / 100] + Indicative Accrued Interest + Processing Fee (based on nominal value)

Example:

Bond Name: CIMBMK 5.800% Perpetual Corp (MYR)

Nominal Value: MYR 1,000

Indicative Price: MYR 102.424

Indicative Accrued Interest: MYR 21.13

Order Placement Date: 2nd of April 2019

Processing Fee: 0.5% of nominal value, or subject to min MYR 8.80

 [(MYR 1,000 * 102.424) / 100] + MYR 21.13 + min of [(1,000 * 0.5%) OR MYR 8.80]

= MYR 1,024.24 + MYR 21.13 + MYR 8.80

= MYR 1054.17

Important Note

We will include 3% buffer into the final estimated payment amount when you place the buy order online. This buffer is to cater for changes in market prices, accrued interest and / or fluctuation in currency conversion. The residue amount will be credited back to your cash account.

 For bond express transaction involving no foreign exchange conversion, no buffer is taken.

Orders of bonds are generated and placed with the Market Dealer according to the following cut-off time:

(a) Bill Payment / Giro / Fund Transfer / Cheque Payment

If we received your payment before 3pm, the order will be placed to the Market Dealer on the same business day, otherwise the order will be placed on next business day.

(b) Cash Account

• If we received your payment before 5pm, the order will be placed to the Market Dealer on the same business day, otherwise the order will be placed on next business day.
• The price shown on FSMOne are for indicative reference.
• A 3% buffer will be included in the payment to cater for any changes in market prices, accrued interest and / or fluctuation in currency conversion.

Business day refers to Monday to Friday, excluding Malaysia's Public Holidays. All bond orders are irrevocable upon confirmation from dealer.

The buy order of Corporate bonds will be completed by T (Transaction Date) + 4 business days while the Bond Express will be transacted on a real time basis and the trade will be completed on the same day.

The currency conversion rate will be determined based on the spot rate of the T (Transaction date) + 1 business day of your order.

We will not transact until we have received payment from you, the pending order without payment will be voided after 7 working days.

You may login to your account and go to Trade >> Bonds >> Sell to place an order online.

Yes, you may do so. However, your sell order must fulfil the minimum redemption and holding amount if you decide to sell partially.

For Market Price order, once we have received your sell order before 5pm on any business day, your sell order will be transacted. Otherwise the order will be transacted on the next business day.

For Limit Price order, once we manage to match your limit price within 4 business days (from the day you place the order), your sell order will then be transacted.

For Wholesale Bonds

The formula is: [(Nominal Value * Indicative Price) / 100] + Indicative Accrued Interest - Processing Fee (based on nominal value)

Example:

Bond Name: AAREIT 4.350% 05Dec2019 Corp (SGD)

Nominal Value: SGD 250,000

Indicative Price: SGD 106.51

Indicative Accrued Interest: SGD 4,782.05

Order Placement Date: 18th of Nov 2016

Processing Fee: 0.5% of nominal value, or subject to min SGD 35

[(SGD 250,000 * 106.51) / 100] + SGD 4,782.05 - (250,000 * 0.5%)

= 266,275.00 + 4,782.05 - 1,250.00

= SGD 269,807.05 (estimated amount payable)

If foreign currency conversion is involved in your redemption, we will convert your redemption proceeds at the prevailing currency conversion rate.

For Retail Bonds

The formula is: [(Nominal Value * Indicative Price) / 100] + Indicative Accrued Interest - Processing Fee (based on nominal value)

Example:

Bond Name: CIMBMK 5.800% Perpetual Corp (MYR)

Nominal Value: MYR 1,000

Indicative Price: MYR 102.424

Indicative Accrued Interest: MYR 21.13

Order Placement Date: 2nd of April 2019

Processing Fee: 0.5% of nominal value, or subject to min MYR 8.80

[(MYR 1,000 * 102.424) / 100] + MYR 21.13 - min of [(1,000 * 0.5%) OR MYR 8.80]

= MYR 1,024.24 + MYR 21.13 – MYR 8.80

= MYR 1036.33 (estimated amount payable)

If foreign currency conversion is involved in your redemption, we will convert your redemption proceeds at the prevailing currency conversion rate.

There are two redemption methods available, Direct Credit and Cash Account.

Generally the sell order will be completed within T (Transaction Date) + 4 business days. Once it is completed, the proceeds will be credited into your designated bank account if you have selected Direct Credit as your redemption method. Otherwise the proceeds will be credited into your designated cash account if you choose Cash Account as your redemption method.

The currency conversion rate will be based on the spot rate of the T (Transaction date) + 1 business day of your order.

1.Processing Fee

• One-off fees will be charged for each buy or sell order based on the nominal value.

2. Bond Platform Fee

• Ongoing fee calculated daily and charged quarterly based on daily average market value* of bond. The fees will stop applying upon selling of bonds.

For more information on fees, please click here. 

Remarks: *The AUA/Market Value of the bond holdings are derived from the daily indication bid price of the full lot size bond.

The fee and transaction process between Bond Express and the normal bond trading service are the same. Just that bond express has smaller ticket size compared to normal bond trading service.

You may choose to pay in bond currency or in MYR.

Prior to the deduction date, FSMOne will email a platform fee invoice on the following dates to notify account holders about the bond platform fees. Thereon, FSMOne will start to perform the platform fee deduction respectively.

Note: FSMOne does not send out physical invoices.

FSMOne will collect the bond platform fee in the following sequence:

Cash Acc (Bond Currency) >> Cash Acc (MYR)  >> Any coupon payment into cash account (Bond Currency) >>  Any coupon payment into cash account (MYR) >> Any redemption proceeds from selling of bonds.

Note: FSMOne reserves the rights to perform ad-hoc deductions for any outstanding platform fee from the redemption proceeds from selling of bonds.

FSMOne is regulated and required to segregate its own assets from those belonging to its customers. Therefore, we have appointed a third-party custodian bank to manage FSMOne clients' bonds and sukuk investments.

As assets does not co-mingle, in the event of a liquidation, bonds investments belonging to investors are not able to be claimed by FSMOne's creditors.

Yes, you may transfer your bond holdings from banks to FSMOne by filling up a transfer form.

You may reach out to our client services team by click here for further assist. 

No charges are incurred by FSMOne. However, you may check with your bank to see if there are any charges on their end.

No, transfer out bond to the bank is not available.