First Malaysian Ringgit Trader Live on RTFX
Source: IBS Publishing
CIMB Bank, the commercial banking arm of CIMB Group in Malaysia, has become the first Ringgit market-maker to go live on Thomson Reuters' RTFX (Reuters Trading for Foreign Exchange) platform. The Ringgit is currently non-tradable outside of Malaysia, the central bank remaining averse to freely allowing the currency to be speculated off-shore. As the first go-live, the RTFX platform connects CIMB to the Malaysian trading community. It enables existing and new corporate clients, banks and other financial institutions in the country to execute spot and forward foreign exchange deals and manage post-trade processing via a single sign-on from the Thomson Reuters desktop.