Malaysia Plans Futures Exchange; But Gets Cool Reception In Region
EXCHANGES
The Malaysian Monetary Exchange (MME) announced late last week that it is planning to set up a local currency futures exchange in response to the June/July launch by Finex, a division of the New York Cotton Exchange (Nyce), of four Asian currency futures--the Malaysian ringgit, Singapore dollar, Thai baht and Indonesian rupiah (FXW, June 2).
When Finex announced the introduction of the Asian currency contracts earlier this year, Colman Candy, managing director of Finex Europe in Dublin, said the
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