| Flexibility for private sector in forex dealings
KUALA LUMPUR: The further liberalisation of Malaysias foreign exchange administration policies will give the private sector more flexibility in managing foreign exchange transactions, Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said. She said although the trading market would be affected by the inflow and outflow of funds, Malaysia would be able to absorb any outflow, given the countrys high reserves. Given a very high level of reserves, we can certainly absorb the outflow and over time, we project significant inflows continuing with export growth estimated at 8% to 9%, she told reporters after the launch of Bank Negaras Annual Report 2006 and the inaugural issue of its Financial Stability and Payment Systems Report 2006 yesterday. Zeti said the inflow of foreign direct investment (FDI) remained significant to date, with the central bank expecting inflows of portfolio funds amidst a positive outlook for the economy. On the relaxation on forex rules, she said the financial sector had always been seen as an enabler of growth in facilitating financing for the private sector. Zeti said liberalisation had, in fact, generated new business opportunities for domestic players, adding that players could issue foreign currency bonds and take part in the property sector more sensibly. On whether the liberalisation was a process towards allowing the ringgit to be traded offshore, she said the central bank would assess the risks and benefits of such a move. These latest changes are quite significant and we will consider other liberalisation (moves) going forward.
Townsend Analytics Expands Direct Access to German Markets with ...
CHICAGO, March 7 /PRNewswire/ -- Townsend Analytics ( http://www.townsendanalytics.com/ ), a leading provider of multi-broker, multi-asset, multi-currency, and multi-route electronic trading solutions for the global capital markets, has expanded its partnership with Baader Group to include direct market access (DMA) to the XONTRO warrants market in Germany and other global markets. The Baader Group already offers electronic trading of German equities on XETRA through Townsend Analytics' flagship Execution Management System (EMS), RealTick(R) ( http://www.realtick.com/ ). By joining Townsend's multi-broker network, Baader expands its electronic execution capabilities to include foreign and domestic stocks, equity-based warrants, fixed income and derivative products, and major futures markets.
CalPERS Selects LavaFX Product Suite for Foreign Exchange Trading
SACRAMENTO, Calif. and NEW YORK--(BUSINESS WIRE)--The California Public Employees' Retirement System (CalPERS), and Lava Trading Inc., the innovative technology firm that develops high-performance trading solutions for the financial services industry, today announced that CalPERS has selected the LavaFX® product suite for foreign exchange trading. CalPERS will use the platform to execute trades in its new Active Currency Overlay Portfolio, as well as in other internal portfolios. Built upon Lava's leading, proprietary technology core, LavaFX provides a premier offering in electronic foreign exchange trading that is transforming the FX marketplace. It provides a Central Limit Order Book of live dealable prices, full price transparency and depth of book, and the ability to place bids and offers, together with Lava's sophisticated order types.
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