http://www.channelnewsasia.com/news/singapore/malaysia-s-central-bank-criticises-sgx-s-trading-of-ringgit-9112900
Since SG is a financial hub, SG is able to influence the ringgit movement if the ringgit futures is left unchecked when the trading becomes popular.
Malaysia central bank doesn't want Singapore to affect the ringgit movement. No wonder Malaysia sent out a message that China radar system would be placed in JB.
We did mention in one of our posts that Malaysia won't be accommodative towards SG because it had China support. Look like Malaysia is getting tough on Singapore now. I wonder how Malaysia will punish SG if SG refuses to stop the trading of ringgit futures.
http://sg-stock.blogspot.sg/2016/10/malaysia-to-impose-20ringgit-road.html
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http://www.businesstimes.com.sg/government-economy/malaysia-central-bank-says-will-act-on-international-banks-trading-ringgit-in
Malaysia has just announced it will take actions against ringgit futures trading in Singapore by international financial institutions.
This will definitely kill ringgit futures trading liquidity in SG and make it difficult for it to take off in SG.
http://www.channelnewsasia.com/news/singapore/bank-negara-says-statement-on-sgx-s-ringgit-futures-trading-was-9136892
OK, SG is safe now as Malaysia doesn't have jurisdiction over international trading.
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