Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Bursa Malaysia Berhad : BURSA MALAYSIA TO LAUNCH CASH-SETTLED GOLD FUTURES CONTRACT (FGLD)

10/03/2013 | 02:48am US/Eastern
BURSA MALAYSIA TO LAUNCH CASH-SETTLED GOLD FUTURES CONTRACT (FGLD)

Malaysia's first precious metal futures contract will begin trading on Bursa Malaysia from 7 October 2013.

This new cash-settled gold futures contract (Contract Code: FGLD), will be available to all market participants, particularly domestic retail investors, to trade gold on the derivatives exchange of Bursa Malaysia.

The Ringgit-denominated contract will be traded in small contract sizes of 100 grams, enabling investors to trade in small quantities, making each transaction affordable to all those who want to trade gold, whether as a professional, or the public at large.

Dato' Tajuddin Atan, Chief Executive Officer of Bursa Malaysia Berhad and the Chairman of Bursa Malaysia Derivatives said, "The launch of the new Bursa Gold Futures Contract underscores the commitment of Bursa Malaysia to continuously introduce new products and asset classes, thereby bringing more trading and investment opportunities to more Malaysians."

"Our aim is to create a comprehensive marketplace where there is something for every type of trader and investor on Bursa Malaysia. We are confident that the new Bursa Gold Futures Contract, because it is traded on our highly regulated exchange, will become the trusted way to trade gold in Malaysia."

Mr Chong Kim Seng, the Chief Executive Officer of Bursa Malaysia Derivatives Berhad, said, "In Malaysia, where gold is a highly desirable commodity from a cultural standpoint, the minimum contract size of 100 grams for the Bursa Gold Futures Contract provides greater accessibility and affordability to all those who want to trade and invest in gold.

Gold jewelers, manufacturers and stockists are anticipated to be active users of the Bursa Gold Futures Contract to hedge their gold inventory risks and their forward gold purchases.

The Ringgit denomination minimises the risks associated with foreign currency fluctuations thereby providing convenience and flexibility to trade gold futures on Bursa Malaysia."

"The Bursa Gold Futures Contract will be traded under the symbol FGLD, on the derivatives exchange of Bursa Malaysia and traded through our licensed and regulated Futures Brokers," he said.

Mr Chong continued, "The Bursa Gold Futures Contract will be cash-settled based upon the London AM Fix price in USD, which provides confidence in price transparency making it as close as possible to the true price of gold".

For more information on the new FGLD or gold futures contract and how to start trading gold futures on Bursa Malaysia Derivatives.

The launch of Gold Futures Contract at Bursa Malaysia Berhad - (L to R)

  • Mr. Ermin Siow Deputy President, Federation of Goldsmiths & Jewellers Association of Malaysia
  • Datuk Ng Yih Pyng President, Federation of Goldsmiths & Jewellers Association of Malaysia
  • Dato' Tajuddin Atan, Chief Executive Officer, Bursa Malaysia Berhad and Chairman of Bursa Malaysia Derivatives Berhad
  • Yang Amat Berbahagia Tun Mohamed Dzaiddin Haji Abdullah, Chairman, Bursa Malaysia Berhad
  • Mr. Chong Kim Seng, Chief Executive Officer, Bursa Malaysia Derivatives Berhad
  • Mr. Joseph Ng, Country Manager of MKS Precious Metals Sdn Bhd
  • Mr. N Rajan, President, Malaysia Futures Brokers Association
distributed by
React to this article
Latest news
Date Title
<1m ago GOODMAN PROPERTY : GMT Allotment of New Units
<1m ago MALAYSIA AIRPORTS BERHAD : UPDATES ON klia2
<1m ago MITHRIL RESOURCES : • Shortfall Notification
<1m ago KIRIN : Notice Concerning Purchase of Shares of Untraceable Shareholders
2m ago CFAO : Club of Brands launches in Africa
2m ago LUC BESSON : Spitfire Films' four days for Vodacom
2m ago NEDBANK : Integrated wholesale business by Nedbank is on the cards
2m ago GEMALTO : African mobile marketing win-win plan
2m ago SAVOLA : wins Golden Peacock Global CG Award
2m ago AUTODESK : 3rd edition of Autodesk University Extension Dubai announced
Latest news
Advertisement
Hot News 
Novo Banco CEO sees no new capital need, deposits recovering
DIXONS CARPHONE : *citigroup raises carphone warehouse price target to 480 (430) pence - 'buy'
IMPAX ASSET MANAGEMENT : Raises Dividend As Pretax Profit Rises
AUGEAN : Capital Markets Day
DRIVER : Shares Hit Seven Week High After Big Oman Contract Win
Most Read News
2h ago WHOLE FOODS MARKET : Jordan named president of Whole Foods’ Rockies division
2h ago SIMON PROPERTY : May Be Looking to Buy Macerich, Recent Transactions Indicate
2h ago GLENCORE : invests in Congo hydropower as solution to blackouts
2h ago MACERICH : 10 Must Reads for the CRE Industry Today (November 20, 2014)
2h ago NAVISTAR : New disaster-relief truck design unveiled
Most recommended articles
21m ago Japan's Amari - consumer prices flat after oil price fall
37m agoDJCanada to Announce New Immigrant Investor Plan
38m agoDJOPEC Leaves Production Target Unchanged
43m ago Oil prices tumble after OPEC refrains from cuts
47m ago Japan inflation slows in October, output and spending show signs of recovery
Dynamic quotes  
ON
| OFF