Emerging Markets Rates and Currencies Handbook

FX Spot FX Forwards NDFs FX Options Interest Rate Swap Interest Rate Options XCCY swaps Market Overview Onshore Market   ✗     Offshore Market ✗ ✗ ✗ ✗ ✗ ✗ ✗ Onshore Volume (MM USD Daily) Offshore Volume (MM USD Daily) Onshore Max Tenor (Or Typical Tenor For Spot) Offshore Max Tenor (Or Typical Tenor For Spot) Onshore Typical Deal Size (MM USD) Offshore Typical Deal Size (MM USD) Onshore CitiFX Pulse Capabilities 3500-4500 N/A T+2 N/A 2-5 N/A  1500-2000 N/A 10 years N/A 5-10 N/A  N/A N/A N/A N/A N/A N/A ✗ N/A N/A 10 years N/A 5-10 N/A ✗ 50-75 N/A 10 years N/A 10-15 N/A ✗ N/A N/A 10 years N/A 5-10 N/A ✗ 5-10 N/A 10 years N/A 5-10 N/A ✗ Offshore CitiFX Pulse Capabilities ✗ ✗ ✗ ✗ ✗ ✗ ✗ A resident is free to buy or sell ringgit against foreign currency (FC) for its own account with a licensed onshore bank on spot or forward basis for current account and financial account transactions either on firm commitment or anticipatory basis. For FX hedging of FC obligations, a resident is free to sell ringgit against FC with a licensed onshore bank on – 1. spot basis; or 2. forward basis up to the underlying tenure of its FC obligations. Market opening hours and liquidity during the day Fixing Kuala Lumpur USD/MYR reference rate is published on Reuters MYRFIX2 at 3.30pm local time, Monday to Friday except for bank holidays in Malaysia. Regulation Offshore Restrictions: MYR is a non-internationalized currency, thus any offshore trading of MYR such as trading of MYR non- deliverable forwards (NDF) is not recognized. Please refer to BNM’s press release on 13 November 2016, ref no: 11/16/09 “Prohibiting Facilitation of NDF Related Transactions”. https: //www.b nm.gov.my/-/prohibiting-facilitation-of- ndf-related-transactions Requirements to open a foreign currency account Documents required to open a foreign currency account include: • Account Opening Forms. • Tax related documents (examples include FATCA and CRS related documents). • KYC related documents (examples include identification documents of authorized signatories and shareholders). • Mandate to operate account (examples include board resolutions and power of attorney). • Governance documents (examples include certificate of incorporation, constitution, and particulars of directors, managers and secretaries). Documents required to open a foreign currency account include: • Account Opening Forms. • Tax related documents (examples include FATCA and CRS related documents). • KYC related documents (examples include identification documents of authorized signatories and shareholders). • Mandate to operate account (examples include board resolutions and power of attorney). • Governance documents (examples include