The Derivatives Exchange total open position also recorded a new high of 71,675 contracts on 27 September 2004, compared to the earlier record of 70,458 contracts recorded on 26 May 2003.
The Crude Palm Oil Futures (FCPO) recorded highest open interest of 37,887 contracts on 27 September 2004, the highest open position for FCPO in 24 years since its inception in 1980. The FCPO Contract witnessed a record year-to-date monthly high volume of 144,882 contracts in September, compared to monthly volume of 133,205 contracts recorded in the corresponding period last year. The nine months cumulative volume of FCPO grew about 1%, at 1,050,065 contracts as at 30 September 2004 compared to 1,042,181 contracts in the corresponding period in 2003.
KLCI futures (FKLI) volume also grew by 375% for the first nine months of the year, recording 843,941 contracts as compared to 177,585 contracts recorded during the corresponding period in 2003.
Chief Executive Officer of Bursa Malaysia Berhad, Yusli Mohamed Yusoff, attributes the new trading highs to increased awareness in product knowledge on derivatives and increasing activity in the underlying market.
"With further liberalisation of the derivatives market proposed under the Budget 2005, combined with continued support and commitment from industry and market participants in Malaysia and internationally, we look forward to stronger growth and positive developments in the derivatives industry," Yusli said.
“As a Derivatives Exchange offering a suite of Futures and Options contracts, Bursa Derivatives has established a reputation for being a market with the capacity and capabilities to serve the needs of the commodities trading community, locally and internationally.
“As the capital market in Malaysia evolves further with more varied and customised investment instruments, the futures industry will play a significant role in the transformation towards a more dynamic capital market and financial industry,” Yusli said.