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Bloomberg Provides Daily Rates for Malaysian Cross Currency Basis Swaps

New York (ots/PRNewswire)

Bloomberg, the leading global provider
of business and financial news and data, today announced that it has
been chosen as the fixing agent for Malaysian Cross Currency Basis
Swaps. The Central Bank of Malaysia, Bank Negara Malaysia, along with
the Financial Market Association of Malaysia, have mandated Bloomberg
to provide the fixing rate, which is available on the Bloomberg(R)
Terminal beginning this week.
The fixing rate is compiled and calculated by Bloomberg and is
based on bid and ask rates for seven maturity points offered by 13
regional banks. The fixing is released to the market daily prior to
11:30 a.m. Malaysia time.
The new Malaysian fixing rate provides a stabilized rate for the
basis swaps on three month Kuala Lumpur International Bank Offer Rate
(KLIBOR) to three month US Libor. This tool allows swap traders to
participate in the Malaysia Cross Currency Swap market with stable,
reliable pricing and transparency.
Bloomberg is the fixing agent, and participating banks include ABN
Amro Bank, AmMerchant Bank, Bumiputra-Commerce Bank, Citibank,
Commerce International Merchant Bankers, Deutsche Bank, HSBC Bank,
Hong Leong Bank, Malayan Banking, OCBC Bank, RHB Bank, Standard
Chartered Bank and United Overseas Bank.
"Bloomberg is pleased to offer the new Malaysian fixing rate,
which is an essential part of the Malaysian banking network,"
according to Alex Bruce of Bloomberg. "This is another step in
Bloomberg's commitment to supporting the evolution of the Asian
financial markets. As part of Bloomberg's ongoing strategy of
continuous product enhancement, this tool is available to Bloomberg
users at no additional cost."
Yeo Chin Tiong, chairman of the Market Development Committee of
the Financial Market Association of Malaysia, added, "The Financial
Market Association, supported by Bank Negara Malaysia, seeks to
further develop the domestic derivative market by enhancing awareness
and transparency. The launching of the Cross Currency Basis Swap
fixing coincides with the increased participation of international
institutions in the domestic Malaysian bond market."
The fixing can be found on the BLOOMBERG TERMINAL at BNMF<GO>.
APF<GO> is the Central Page for all Asia-Pacific Fixings.
About Bloomberg
Bloomberg is the leading global provider of data, news and
analytics. The BLOOMBERG(R) TERMINAL and Bloomberg's media services
provide real-time and archived financial and market data, pricing,
trading, news and communications tools in a single, integrated
package to corporations, news organizations, financial and legal
professionals and individuals around the world. Bloomberg's media
services include BLOOMBERG NEWS(R), the global news service that
includes more than 1,600 journalists in 103 bureaus worldwide;
BLOOMBERG TELEVISION(R), the 24-hour business and financial network
produced and distributed worldwide on 10 separate channels in seven
languages; and BLOOMBERG RADIO(SM), which provides up-to-the-minute
news on XM, Sirius and WorldSpace satellite radio around the world
and on WBBR 1130AM in New York. In addition, Bloomberg Magazine Group
and Bloomberg Press publish magazines and books for investment
professionals. For more information please visit
http://www.bloomberg.com.
Web site: http://www.bloomberg.com

Contact:

Loren Riegelhaupt of Sloane & Company, +1-212-446-1871 for Bloomberg

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