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Bursa Malaysia Derivatives Berhad (“Bursa Malaysia Derivatives” or “the Exchange”) recently announced the successful conclusion of its Gold Futures (“FGLD”) Retail Trading Challenge, a competition designed to educate and empower retail investors in the gold investment market. The challenge, which ran from 16 October to 31 December 2023, highlighted the importance of gold as a strategic asset class and introduced investors to the advantages of using the FGLD contract for portfolio diversification and hedging.
The challenge was open to all Malaysian individuals, with the criterion of achieving a minimum of 120 lots traded during the period. The top 10 traders with the highest trading volumes in FGLD contracts were awarded a total of 42 grams of gold minted bars, courtesy of MKS PAMP (Malaysia) Sdn Bhd, a renowned player with over six decades of expertise in the precious metals industry.
Bursa Malaysia Derivatives also celebrated the significant contributions of Futures Broker Representatives (“FBRs”) and Commissioned Futures Broker Representatives (“CFBRs”) through a concurrent challenge. These professionals were acknowledged for their efforts in promoting futures trading opportunities, with awards given to those achieving the highest number of traded accounts and volumes during the challenge period.
"We are delighted to recognise the exceptional achievements of our winners, showcasing not only their trading expertise, but also the potential of our gold futures market," said Mohd Saleem Kader Bakas, Director of Bursa Malaysia Derivatives. “Our future broker representatives have played a crucial role in educating retail investors about the myriad of trading opportunities available, thereby enhancing the dynamism of the Malaysian derivatives market.”
Echoing this sentiment, Segar Govindasamy, Managing Director of MKS PAMP (Malaysia) Sdn Bhd, added, “We are thrilled to be a part of the FGLD Retail and Sales Trading Challenge. We believe that education is key to empowering investors of all levels, and this programme aligns with our aim to guide individuals towards making informed financial decisions in gold investing.”
The FGLD contract is a cash-settled contract quoted in US Dollar (USD) and settled in Malaysian Ringgit (MYR), offering investors immediate exposure to international gold price movements and a hedge against currency fluctuations. With an 84% increase in monthly trading volume from January 2023 to December 2023, FGLD highlights the growing interest and opportunity within the gold trading sector.
Bursa Malaysia has continued to expand its offerings as a Multi-Asset Exchange, providing diverse gold investment options including FGLD, the Gold ETF (“Tradeplus Shariah Gold Tracker”) and the recently launched Bursa Gold Dinar (“BGD”). For more information on Bursa Malaysia’s gold investment products, visit https://www.bursamalaysia.com/.
For a full list of the FGLD Retail Trading Challenge winners, visit https://www.bursamarketplace.com/fgld/.
