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Forex traders, officials see little interest in ringgit futures to be offered by SGX, ICE

Kuek Ser Kwang Zhe
Kuek Ser Kwang Zhe 8/28/2017 08:00 AM GMT+08  • 3 min read
Forex traders, officials see little interest in ringgit futures to be offered by SGX, ICE
(Aug 28): The introduction of ringgit futures by the Singapore Exchange and the Intercontinental Exchange (ICE) is expected to have limited impact on the movement of the ringgit going forward.
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(Aug 28): The introduction of ringgit futures by the Singapore Exchange and the Intercontinental Exchange (ICE) is expected to have limited impact on the movement of the ringgit going forward.

A forex trader with a Malaysian bank says there will be very little demand for the newly introduced instrument after Bank Negara Malaysia slammed its introduction.

“Hedgers with genuine interest, such as importers and exporters, will not be trading offshore ringgit futures. There will be very little liquidity for the instrument. There will also be no arbitragers providing liquidity to the market,” he says.

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