KUALA LUMPUR: Bank Negara will allow foreign electronic brokers to offer their electronic broking platforms for wholesale interbank trading in Malaysian foreign exchange (forex) market from July 1.
The central bank said the move was aimed at enhancing the participation of new players to “further increase the dynamism and competitiveness of this market”.
“This flexibility will promote greater trading activities, as electronic trading platform increases transparency, improves market efficiency and lower transaction cost for participants,’’ it said in a statement yesterday.
Foreign electronic brokers interested to provide such service can submit their applications to Bank Negara, in line with the requirement of the Banking and Financial Institutions Act 1989.
source : http://biz.thestar.com.my/news/story.asp?file=/2010/6/26/business/6551733&sec=business
Happy Trading....
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