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On November 7, Chairman of Burma Malaysia Derivatives (BMD) Dato’ Tajuddin Atan said on the 7th CIOC that CIOC had promoted the development of edible oils and futures and actuals contracts and provides an excellent offset instrument for the clients of both parties. At present, it can help the bilateral market customers of one side obtain the information about the market of the other side, and make it possible for sellers and buyers to cooperate, give full play to the coordination function of exchanges.
The Chairman said CIOC was the result of the cooperation between DCE and BMD. In the past six years, DCE and BMD have cooperated with each other in capital market, and the Conference participants have increased year by year, with many “first” results achieved. The professional skills of DCE have made its partners able to improve their businesses.
He also said since December 2011, BMD has accepted Renminbi-denominated margin and approved the Industrial and Commercial Bank of China to be the settling bank of BMD. Palm oil futures contracts on BMD have become the global benchmark contracts in palm oil industry market. He hoped to make it easy for foreign institutions to participate in palm oil trading during the process of internationalization, so that palm oil contracts can be better hedged, and thus leading to the benign development of both the Chinese and Malaysian markets.
