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
02:08p BAHRAIN CINEMA BSC : Company opens new restaurant in Wadi Al Sail
02:08p BAHRAIN NATIONAL B S C : BHB registrar for BNH shares
02:06p TSUI WAH : Announcements and Notices – LIST OF DIRECTORS AND THEIR ROLES AND FUNCTIONS
02:06p TSUI WAH : Announcements and Notices – POLL RESULTS OF THE ANNUAL GENERAL MEETING HELD ON 26 AUGUST 2016
02:05p DUQUESNE LIGHT : Utility linemen show off their skills at Duquesne Light Lineman's Rodeo
02:02p European Society of Cardiology (ESC) Congress Poster Session Reveals Results From Pre-Clinical Study Using CardioCell's Stem Cells for Chronic Ischemic Cardiomyopathy
02:01p GERMANY'S ECONOMY MINISTER : U.S.-EU free trade talks have failed
01:57p Spanish economic recovery helps boost El Corte Ingles profit
01:57p FIRSTENERGY : New law promises to save coal jobs
01:57p WESTERN UNION : WVU student collects militaria
Latest news
Advertisement
Hot News 
-10.63%GAMESTOP : quarterly revenue misses on weak video game sales
4.35%TATA MOTORS : India's Tata Motors first-quarter net profit halves on forex loss post-Brexit vote
-2.31%HERBALIFE : Ackman approached to buy Herbalife shares owned by Icahn
-6.63%DONGFENG MOTOR : 1st Half Net Profit Falls 1.8% to CNY6.76 Billion
-2.80%ALERE : Sues Abbott Laboratories to Force Merger
Most Read News
08/27 VOLKSWAGEN : Start-ups in Target's Techstars accelerator race to finish line
06:21a MANCHESTER UNITED : Mourinho lauds `marvellous` Rashford post PL win over Hull City
01:03a MITSUBISHI HEAVY INDUSTRIES : M'bishi jet heads for U.S. after aborting earlier flight due to defect
08/27 BANK OF VALLETTA P L C : 185 BOV employees graduate from the BOV Training Academy
08/27 ECOPETROL : informs the resignation of a member of the Board of Directors
Most recommended articles
04:51aDJFORD MOTOR : Feels Pressure of China Rivals' Pursuit
08/27DJTRANSCRIPT : Bank of Mexico Gov. Agustín Carstens Interview in Jackson Hole, Wyo.
08/27 Stada shareholder AOC pushes through board reshuffle
08/27DJBOEING : FAA Tightens Safeguards on Lithium Batteries on Jetliners, Smaller Planes
08/27 Exlusive - Iraq plans to sell oil through Iran if talks with Kurds fail