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
Recommend:
0
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
Recommend :
0
React to this article
Latest news
Date Title
<1m ago GOOGLE : Smartphone attached to flying robots set to assist astronauts on ISS
<1m ago Saudi Arabia-based Weqaya Takaful outlook revised to negative by S&P
3m ago TAKEDA PHARMACEUTICAL : Actos Bladder Cancer Allegations Attorney Help: Resource4thePeople Informing Consumers about $9 Billion-Dollar Jury Verdict Awarded to Victim
5m ago RELIANCE : profit hits $933m in fourth quarter
5m ago MAZDA : New mazda3 rolled out
5m ago Bank closes Crimea operations
6m ago AHLI UNITED BANK : AUB stance
6m ago FINANCIER CROI INV : Charity football contest kicks off
6m ago MICROSOFT : new XBox sales top five million
6m ago BANK DHOFAR : posts profit of $26.6m
Latest news
Advertisement
Hot News 
HAVELOCK EUROPA : Preliminary Results to 31 December 2013
LDK SOLAR : Provides Additional Information on its Request for Review of NYSE Regulation's Decision to Suspend Trading and Commence Delisting Procedures
HAYNES PUBLISHING : Third Quarter Hit By Us Inventory Returns, Weak UK
SPACEANDPEOPLE : Shares Slide As It Lowers 2014 Forecast
BLUR : Shares In Blur Group Plummet Due To Delayed Revenue Recognition
Most Read News
1d ago TEXTURA : Uncommon Uses Greengrade to Help Achieve LEED Platinum for Project VIDA
1d ago GRAHAM : Pentagon Mulls Deployment As Poland Asks For 10,000 Troops
1d ago BAYERISCHE MOTOREN WERKE : Marion County Deputies Arrest Speed Racing Driver
1d ago WPCS : Announces Launch Date for BTX Trader Platform
1d ago HMN FINANCIAL : Announces first quarter results, april 22, 2014
Most recommended articles
3d ago U.S. shares seen opening lower as tech giants stumble
3d ago Financials bolster FTSE after reassuring U.S. earnings
3d ago BLACKSTONE : earnings rise 30 percent, boosted by private equity gains
41m ago Daimler to sell DENZA electric car in China with local subsidy
45m ago BAYERISCHE MOTOREN WERKE : BMW in final stages of decision on potential new factory
Dynamic quotes  
ON
| OFF