MARKET DEVELOPMENT
Get To Know Malaysia's FCPO Well To Profit From Them
Get To Know Malaysia's FCPO Well To Profit From Them
20/09/2014 (Bernama) - Investors must get to know Malaysia's crude palm oil futures contracts (FCPO) well and profit from them, said Bursa Malaysia Derivatives Bhd's chief executive officer, Chong Kim Seng.
He said Malaysia has a globally well-known and world-recognised FCPO.
"This means a global market in palm oil is already here with us in our time zone and in Malaysia," he said.
Chong said this at the opening of the fourth branch of Philip Capital/Philip Futures, Kuching branch, Sarawak here today.
He said on Sept 10, 2014, the FCPO contracts recorded the historical highest open interest in a day of 287,859 contracts, or 7.19 million metric tons (MT).
On Sept 15, it achieved a historical highest trade volume in a day of 76,335 contracts or 1.91 million MT, he said.
"Last year our FCPO was traded at 200 million MT and this year we expect it to increase to 250 million MT.
"We can add the physical palm oil production numbers to these figures and we can see how important Malaysia is to global palm oil industry," he said.
Meanwhile, Phillip Capital Malaysia managing director, Andy Lim, said the setting up of the new branch was to offer financial services to local community of Kuching.
He said the brokerage looked forward to bringing unit trust and futures products to customers and businesses in the area.
"The opening of the branch office here will also pave the way for more retail participants in the derivatives investment market," he said.
He said Malaysia has a globally well-known and world-recognised FCPO.
"This means a global market in palm oil is already here with us in our time zone and in Malaysia," he said.
Chong said this at the opening of the fourth branch of Philip Capital/Philip Futures, Kuching branch, Sarawak here today.
He said on Sept 10, 2014, the FCPO contracts recorded the historical highest open interest in a day of 287,859 contracts, or 7.19 million metric tons (MT).
On Sept 15, it achieved a historical highest trade volume in a day of 76,335 contracts or 1.91 million MT, he said.
"Last year our FCPO was traded at 200 million MT and this year we expect it to increase to 250 million MT.
"We can add the physical palm oil production numbers to these figures and we can see how important Malaysia is to global palm oil industry," he said.
Meanwhile, Phillip Capital Malaysia managing director, Andy Lim, said the setting up of the new branch was to offer financial services to local community of Kuching.
He said the brokerage looked forward to bringing unit trust and futures products to customers and businesses in the area.
"The opening of the branch office here will also pave the way for more retail participants in the derivatives investment market," he said.