Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/03/2013 | 08:48am CEST
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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news
Date Title
10:36a ECKOH : Says Traded In Line With Expectations In Recent Financial Year
10:35a Centrica looks to raise funds to cut debt; shares fall
10:35a INTERSERVE : strengthens energy service...
10:35a CATHAY PACIFIC AIRWAYS : New Cathay Pacific Lounge opens at Vancouver International Airport
10:35a BARRAMUNDI : BRM undiluted NAV $0.7114 as at 4/5/16 (BRM - NTA)
10:35a BARRAMUNDI : BRM undiluted NAV $0.7114 as at 4/5/16
10:35a BANGO : launches Direct Carrier Billing in India with Google Play and Idea Cellular
10:35a IXICO : MyBrainBook® Selected as Runner-up for Medilink UK Partnership with NHS Award
10:35a Britain's economy slows to near-stall speed before EU referendum - Markit
10:35aDJRepsol Net Profit Plunges More Than 40% --2nd Update
Latest news
Advertisement
Hot News 
FILTRONIC : New Contract Win
BANGO : Implements Google Play Direct Carrier Billing In India
FALANX GROUP LIMITED : Acquisition, Placing and issue of Loan Notes
EMPRESARIA : Makes Good Start To 2016 With Net Fee Income Higher
DIXIE : tightens belt, focuses on profits following rocky first quarter
Most Read News
05/04DJAustralia March Trade Deficit Narrows
05/04DJAustralian March Retail Sales Rise
05/04 KANTAR HEALTH : Names Diana Tan General Manager for China, Expanding Expertise in Innovative Patient Insights
05/04 PRODUCER PRICE SURVEY : March 2016
12:10a AUSTRADE AUSTRALIAN TRADE COMMISSION : Outcomes from LNG 18
Most recommended articles
05/03DJUBS Shares Drop As Profit Slumps
04:35a Centrica looks to raise funds to cut debt; shares fall
04:35aDJRepsol Net Profit Plunges More Than 40% --2nd Update
04:26aDJTurkish Stocks Tumble Amid Political Feud
04:25aDJPetron 1st-Quarter Net Profit Rises to PHP2.8 Billion Vs PHP257 Million Year Ago