Rakuten Trade Bursa Orders Still Down, No Restart Date

Quick Answer: Rakuten Trade Sdn Bhd has disrupted online trading for Bursa Malaysia stocks for more than a week after a precautionary measure against a cybersecurity attempt. No resumption date is confirmed, though the broker said in an Oct 28 client notice that it was in the final stages of checks. The broker reports no evidence of data loss, and its parent Kenanga Investment Bank Bhd (KL:KENANGA) is one of its two joint venture partners.

Rakuten Trade Bursa trading has been down for more than a week, and the broker still has no restart date.

Clients cannot place online buy or sell orders through the website or the iSPEED.my app. The disruption affects only Malaysian stock trading.

Why Is Rakuten Trade Bursa Trading Still Offline?

Rakuten Trade Bursa trading disruption on stock market screens — Online Bursa order placement at Rakuten Trade remains suspended.

Rakuten Trade Sdn Bhd took precautionary measures after detecting a cybersecurity attempt. Those measures temporarily limited transactions on its system.

In its latest client notice, dated Oct 28, the broker said it needed to confirm the service was stable before resuming online trading. It will notify clients once buy and sell orders are available again.

An earlier notice described verification, testing and security validation, but gave no resumption date.

Rakuten Trade Bursa Orders Still Down, No Restart Date — Photo: TheEdge

What Can Rakuten Trade Clients Still Do on Bursa?

Services Still Running

Manual sell orders through customer service
US and Hong Kong stock trading
Deposits and withdrawals
Account access and other account services

Online buy and sell orders remain unavailable on both the website and the iSPEED.my app. Clients who want a backup route can compare options in Trading Account Types in Malaysia.

What Did CEO Kazumasa Mise Say About the Cyberattack?

Mise said the broker had to temporarily limit transactions as a preventative measure. “Based on our assessments to date, we have found no evidence of data loss,” he said.

He said the team was working to ensure its systems were secure before restoring services. He also apologised for the inconvenience.

“Protecting our systems and safeguarding our customers’ information remain our top priority,” Mise said.

Is the Rakuten Trade Outage Linked to Japan’s Cyber Incidents?

No, according to Mise, who said the issue is “unrelated to the separate cyber issues reported in Japan.”

Japanese companies have recently faced attacks that disrupted online services and compromised customer information. GMO Internet Group said it would compensate customers for losses from unauthorised access after an attack on its foreign exchange trading service.

What Is Kenanga Investment Bank’s Link to Rakuten Trade?

Rakuten Trade began operations in May 2017 as a joint venture between Kenanga Investment Bank Bhd (KL:KENANGA) and Japan’s Rakuten Securities Inc. The platform is licensed by the Securities Commission Malaysia.

The notices reviewed do not quantify any cost of the incident. For Kenanga shareholders, the open questions are the restart date and the financial impact, and neither has been disclosed.

This article is for general information only and is not financial advice. Do your own research before making any investment decision.

Key Takeaways

Rakuten Trade has no confirmed date to resume online Bursa Malaysia trading.
Only manual sell orders are accepted through customer service.
US and Hong Kong stock trading, deposits and withdrawals remain available.
The broker reports no evidence of data loss and denies any link to Japan’s cyber incidents.
The broker is a joint venture with Kenanga Investment Bank Bhd (KL:KENANGA).

Frequently Asked Questions

Is Rakuten Trade Bursa trading back online?

Not yet. The broker has not confirmed a restart date, and its Oct 28 client notice said it was in the final stages of checks. It will notify clients once online buy and sell orders are available again.

Can I still sell Bursa stocks through Rakuten Trade during the outage?

Yes, but only through manual sell orders accepted by its customer service team. Online buy and sell orders on the website and iSPEED.my app remain unavailable.

Is Rakuten Trade’s US and Hong Kong stock trading affected?

No. Trading in US and Hong Kong stocks remains available, alongside deposits, withdrawals and account access.

Did the Rakuten Trade cyberattack cause client data loss?

The broker says there is no evidence of data loss based on its assessments to date. CEO Kazumasa Mise made that statement in a written response to The Edge.

Source: View Original Article — The content is based on the original publisher. Refer to the original content for accurate info. Contact us for any changes.