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

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

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
04:09a ECOWAS ECONOMIC COMMUNITY OF WEST AFRICAN STATES : reignites cooperation with Germany as president Gauck visits
04:07a TAINAN ENTERPRISES : Powerful earthquake rocks southern Taiwan
04:04a FERRARI NV : 'Iconic' Red Ferrari Sells For Over £24m
04:03a BURBERRY : Yorkshire Tweed Initiative Announced
04:03a AUDI : Chattanooga Times Free Press, Tenn., Mark Kennedy column
04:02a NIPPON TELEGRAPH AND TELEPHONE : BRIEF: Veteran RagingWire executive named president of company
03:59a Quake fells Taiwan apartment building, at least five dead
03:55a TAINAN ENTERPRISES : At least three killed, dozens injured as quake hits Taiwan
03:51a TAINAN ENTERPRISES : 6.4-magnitude earthquake rocks southern Taiwan
03:46a MINISTRY OF FOREIGN AFFAIRS OF I R OF IRAN : Iranian Deputy Foreign Minister for Asia-Pacific Affaris Meets with Indian Minister of Foreign Affairs
Latest news
Advertisement
Hot News 
ANDALAS ENERGY AND POWER : & Power signs heads of agreement to farm-in to Indonesian gas project
GWG : CEO Jon Sabes Appears on TheStreet.com
Technology rout pushes Nasdaq to lowest close since 2014
Lions Gate Plummets Amid Lack of Earnings Guidance
LINKEDIN : forecasts weak first-quarter profit, shares plunge
Most Read News
02/05 FOX, ABC Outlets in LA to Air AHF Condom Ad during Prime Time
02/05 CLIFFORD CHANCE LLP : advises on sale of the Isaac Plains Coal Project by Sumitomo Corporation and Vale
02/05 BEIJING MUNICIPAL GOVERNMENT : China stops approving new coal mines
02/05 MINISTRY OF AGRICULTURE OF PEOPLE REPUBLIC O : Accelerate agricultural supply-side reform
02/05 LIGHTHOUSE BANK : Announces Return of Jon P. Sisk, Appointment as President of the Bank
Most recommended articles
02:48aDJToyota Loses Yen Tailwind
02:48aDJFoxconn Upbeat On Sharp Deal
02:47aDJLAKSHMI MITTAL : Arcelor Grapples With Glut
01:24aDJChina's Central Bank Injects More Cash
02/05 WEEKLY TRADING FORECAST : Will We See More of Last Week’s Exceptional FX and Commodity Volatility?