Bursa Malaysia Berhad’s Chief Legal Officer, Selvarany Rasiah said the amendment was made as part of Bursa Derivatives’ ongoing efforts to review and update current contract specifications in line with market needs. “The current framework of the speculative position limit for Three Month KLIBOR Futures contract was introduced in 1996 to reflect market activity at the time. Given significant increases in market activity since the introduction of the current framework, it is timely to introduce changes that better reflect market conditions today.”
The new Rule states that a Client or a Participant acting alone or in concert with others shall not own or control an open position of more than 5,000 contracts net long or net short in all contract months combined.
The amendments will take effect on 3 January 2006. The complete text of the amendments is available for reference on Bursa Malaysia’s website at www.bursamalaysia.com
