FOREIGN EXCHANGE | Roxanne Uy, Singapore

FX markets moving from OTC to a more exchange-like market: Krungsri

Asian central banks are moving towards relaxation in FX control.

Here are the bankers' responses when asked: How are the current regulations transforming the Asian FX market?

Masashi Nimura, Deputy Head of Global Markets Group, Krungsri (Bank of Ayudhya PCL):
Current regulations are moving FX market from OTC into a more exchange-like market. In the end, banks and corporates may be buying/selling FX spot in the exchange in standard sizes.

Thiti Tantikulanan, Capital Markets Business Division Head, KASIKORNBANK:
The gradual liberalization of Asian currencies may gear the market towards more usage of Asian currencies for intra-regional trades and investment activities. Despite current strict FX and capital control, we see the trend that Asian central banks move towards relaxation. This helps facilitate customers' need in using regional currencies for trade and capital movement transactions.

Johannes Husin, Bank OCBC NISP Treasury:
The current regulation landscape has transformed the FX market. It has become more restrictive and more transparent but less innovative. The market now needs to carefully consider the risk and reward, review existing activities, and liaise with regulators before launching new products

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