Posts Tagged ‘Foreign Electronic Brokers Allowed to Offer Electronic Broking Platforms in the Malaysian Foreign Exchange Market’
July 6th, 2010 | 
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Ref No: 06/10/10
Embargo: Not for publication or broadcast before 1700 hours on Friday, 25 June 2010
Foreign Electronic Brokers Allowed to Offer Electronic Broking Platforms in the Malaysian Foreign Exchange Market
Bank Negara Malaysia wishes to announce that foreign electronic brokers would be allowed to offer electronic broking platforms for wholesale interbank trading in the Malaysian foreign exchange market with effect from 1 July 2010.
This initiative is aimed towards enhancing the participation of new players in the foreign exchange market to further increase the dynamism and competitiveness of this market. This flexibility will promote greater trading activities as electronic broking platform increases transparency, improves market efficiency and lowers transaction costs for the market participants.
Foreign electronic brokers who are interested to provide such service in Malaysia may submit the application to Bank Negara Malaysia in accordance with the requirements of the Banking and Financial Institutions Act 1989. Read the rest of this entry »
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