Bursa Malaysia Crude Palm Oil Futures (FCPO) Open Interest Hits Over 100,000 Contracts

Bursa Malaysia Derivatives Exchange Berhad hits record high for Crude Palm Oil Futures (FCPO) open interest at 101, 536 contracts on Friday, 8 June 2007; and 101,525 on Monday, 11 June 2007. The increase of open interest in excess of 100,000 is an important milestone which showed the increasing outstanding contract established by the market players.

The exchange also experienced an increase of over 13,000 contracts traded per day from 1 April to 8 June 2007 compared to the first quarter of the same year at over 10,000 contracts per day. The increase of 13,000 contracts per day from 1 April to 8 June 2007 shows a growth of almost 44% compared to 9,000 contracts per day in 2006. For the past two market days, the contract recorded traded volume in excess of 25,000 contracts. The highest record trading volume for the FCPO contract was 28,010 contracts achieved on 17 November 2006.

“We are pleased with the robust FCPO market and the increase in liquidity,” said Yusli Mohamed Yusoff, Chief Executive Officer of Bursa Malaysia Berhad.

Bursa Malaysia recently made revisions to the FCPO specifications on 16 March 2007 and revised its derivatives fee structure on 1 April 2007.