KUALA LUMPUR (June 23): Bank Negara Malaysia (BNM)'s Financial Market Committee (FMC) said it remains vigilant to potential spillover effects of the United Kingdom's referendum today on whether to leave the European Union (EU).
"The United Kingdom's referendum on their EU membership is taking place on June 23, 2016, with the results expected on the afternoon of Friday, June 24, 2016, between 2pm [and] 4pm local time. Given the significance of the event, the impact and volatility could spill over onto financial markets.
"BNM, together with the Malaysian financial market participants, are monitoring and will remain vigilant to any potential emerging risks and challenges to the domestic financial markets," said the committee in a statement.
The FMC also assured that there is ample liquidity in the domestic market, adding that the markets are well-positioned to face any major volatility.
"The FMC also would like to inform that its members will continue to provide the liquidity to the financial markets as required.
"On Friday, June 24, 2016, the market players will commence the operating hours early and trading will be extended to 6pm to facilitate market transactions for all market participants," it added.
The FMC consists of representatives from BNM, financial institutions, corporations, financial service providers and other institutions and stakeholders that play a prominent role in the financial markets.