Somehow it seems like they are all going to break their own individual records on this one...
Deputy Finance Minister Datuk Ahmad Husni has called for the use of multiple currencies in Bursa Malaysia to draw more foreign companies
Woi....Lu Bingai Ke.....mane pakcik dapat ini idea...sambil berak ke?...it's shitty you idiot
1.Exchange trading of securities requires a clearing function or a central counter-party who will step in to reduce risk of transaction among various trading members.
2. Central Counterparties are exposed to the potential risk of default in the delivery of the security in a sales transaction or the payment of cash in the purchase transaction
Your bright idea will bring in more risk to the central counterparty who now needs to clear transaction in multiple currencies....who will bear the risk i ask you.....how will investors agree on what rates to use to settle the transaction at T + whatever la (Assuming final position will only be known at the end of trading day), they then need to contact their bankers respectively to book for the rates to settle the FX transaction of the Securities Purchase or Sales transaction
Will there be an arbitrage (Can i buy in USD and sell in Ringgit and Make a profit from the movement in currencies instead of the share price movement) between the domestic prices and "other currencies" prices in any particular moment during the trading hours on a single exchange which you claim the whole world will converge because of your idea?....Great idea you have sir.....its so great that Mr Alfred Nobel will wake up from his grave to hand you the award himself......
Do you even remember our problem during 1997-98 when domestic securities was priced and traded in two different location and currencies? Remember CLOB..... you SOB!!
What if our domestic investors now lose complete confidence in our Ringgit and only want to trade in Euros.....how will that affect our Reserves position and Balance of Payments?
What happened to all the Tingkat Advisors? Tak kan la basic shit like this also cannot advise your ministers.......SC and BNM please shut this idiot up.....you all must have a single voice especially in Market Development Activities
Malas siut ..peace people got to get back to work now.....