Ringgit Operations Monitoring System
Encyclopedia
Ringgit Operations Monitoring System (ROMS) is a large-value FX transaction reporting system owned and operated by Bank Negara Malaysia
(BNM), the central bank
of Malaysia. It automates a major part of compliance reporting between Authorised Dealers (who are licensed FX intermediaries) and Bank Negara Malaysia (BNM).
ROMS is built using web-based technology and runs on a web browser
on a PC workstation to minimise cost, ease maintenance and establish a user-friendly interface.
Data security implemented by using a secure private broadband
network between BNM and financial institutions. This network is called ‘FINET’. ROMS is not deployed over the Internet.
FINET in turn, runs over COINS, a nation-wide enterprise level data network operated by Telekom Malaysia, the national telecommunication provider. Users are authenticated via password challenge-response process, IP address
registration and digital certificates.
Reporting financial institutions are required to report all wholesale FX transactions above USD1 million on trade date basis. Daily system start up time for ROMS is at 8.30 am while the system cut off time for the submission via ROMS is at 5.00 pm. Any extension on the system cut off time is at BNM discretion . Other FX transactions below USD1 million and above RM50,000 are recorded on lagged basis but must be within the fortnightly reporting period (before 15th and end-month).
Bank Negara Malaysia
Bank Negara Malaysia is the Malaysian central bank. Established on January 26, 1959 as the Bank Negara Malaya, its main purpose was to issue currency, act as banker and adviser to the Government of Malaysia and regulate the country's credit situation...
(BNM), the central bank
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
of Malaysia. It automates a major part of compliance reporting between Authorised Dealers (who are licensed FX intermediaries) and Bank Negara Malaysia (BNM).
ROMS is built using web-based technology and runs on a web browser
Web browser
A web browser is a software application for retrieving, presenting, and traversing information resources on the World Wide Web. An information resource is identified by a Uniform Resource Identifier and may be a web page, image, video, or other piece of content...
on a PC workstation to minimise cost, ease maintenance and establish a user-friendly interface.
Data security implemented by using a secure private broadband
Broadband
The term broadband refers to a telecommunications signal or device of greater bandwidth, in some sense, than another standard or usual signal or device . Different criteria for "broad" have been applied in different contexts and at different times...
network between BNM and financial institutions. This network is called ‘FINET’. ROMS is not deployed over the Internet.
FINET in turn, runs over COINS, a nation-wide enterprise level data network operated by Telekom Malaysia, the national telecommunication provider. Users are authenticated via password challenge-response process, IP address
IP address
An Internet Protocol address is a numerical label assigned to each device participating in a computer network that uses the Internet Protocol for communication. An IP address serves two principal functions: host or network interface identification and location addressing...
registration and digital certificates.
Reporting financial institutions are required to report all wholesale FX transactions above USD1 million on trade date basis. Daily system start up time for ROMS is at 8.30 am while the system cut off time for the submission via ROMS is at 5.00 pm. Any extension on the system cut off time is at BNM discretion . Other FX transactions below USD1 million and above RM50,000 are recorded on lagged basis but must be within the fortnightly reporting period (before 15th and end-month).