Log in
E-mail
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
Latest news
Date Title
07:17a WAL MART STORES : Man sentenced in murder case
06:18a Mondelez International takes out sweet 1m insurance policy for one of its chocolate tasting-scientists
06:18a EATON VANCE DURATION INCOME FUND : Shares of Eaton Vance Limited Duration Income Fund (EVV) Sees Large Inflow of Net Money Flow
06:18a LMI AEROSPACE : Accounts Payable For LMI Aerospace Is $19.972
06:17a FS INVESTMENT : Shares of FS Investment Corporation (FSIC) Sees Large Inflow of Net Money Flow
06:17a MACY : Suspect in deadly Washington state mall shooting identified
05:57a BOC HONG KONG : BOCHK expands video banking
05:57a KEYCORP : ., First Niagara combo may widen the U.S. bank-merger spigot
05:41a Officials' inaccurate financial disclosures are leaving New Mexico voters in the dark
05:40a WASHINGTON MALL SHOOTING : suspected gunman in custody, police say
Latest news
Advertisement
Hot News 
21.42%Twitter In Talks with Suitors, Including Salesforce, Google -CNBC's Faber
15.45%Endo International CEO steps down, Campanelli named successor
9.77%SANTANDER CONSUMER : USA to Restate Financial Reports
-5.17%FINISH LINE : Comparable Store Sales Rise
-3.52%AP MOELLER MAERSK A/S : A.P. Moeller-Maersk to Split Into Two Separate Divisions -- 4th Update
Most Read News
09/24 FACEBOOK : apologises for shutting down Palestinian journalists' accounts
09/24 MACY : Five dead in mall shooting; no link to terrorism found
09/24 TURKEY TO CONTINUE ECONOMIC REFORMS : Deputy PM Simsek
09/24 CATERPILLAR : Gives the Gift of Power to St. Luke’s Foundation for Haiti
09/24 INDUSTRIAL ALLIANCE INSUR & FIN SER : Director/PDMR Shareholding
Most recommended articles
09/24 Canada Unifor union sets tentative strike deadline for Fiat Chrysler
09/24 WELLS FARGO : Former employees file class action against Wells Fargo
09/24DJGENERAL MOTORS : GM Shows Off Coming Diesel-Power Small SUV
09/24DJForeign Jet-Fighter Makers Woo India
09/24 Takata failed to report 2003 air bag rupture to U.S. road authority