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Malaysia Derivatives Exchange: Action Part Of Routine Risk Management

Date 21/06/2002

Malaysia Derivatives Exchange Bhd (MDEX) announced today that any action taken by the Exchange in directing its Trading Members to limit the trading activity of their clients is part of the Exchange's routine risk management exercise.

MDEX is concerned that a recent such routine directive had resulted in rumours in the market to indicate that a particular market participant's trading activity had been limited due to its speculative trading activities. MDEX would like to clarify that the rumour is unfounded and the Exchange has no evidence of any such speculative trading by the said market participant.

MDEX Chief Operating Officer Dr Zaha Rina Hj Zahari said MDEX views with great concern that the rumour had misrepresented the actions of MDEX.

"We are indeed surprised by the rumours and what saddens us is the fact that for no apparent reason, MDEX and a market participant have been maligned by unfounded rumours about allegations of wrong-doing by the said market participant," she said.

Zaha Rina said MDEX hopes that all parties concerned will act in a more responsible manner and refrain from misrepresenting the actions of MDEX and market participants