Executive Chairman of MDEX Encik Abdul Jabbar Abdul Majid said since the successful migration to electronic trading, MDEX has been working hard towards increasing its range of products further.
"MDEX is scheduled to introduce a 5-year Malaysian Government Securities (MGS) futures contract, Malaysia's first bond futures contract, by the end of this month.
"MDEX is also examining the feasibility of single stock futures and Islamic stock index futures," he said.
Abdul Jabbar was speaking at the MDEX Annual Palm & Lauric Oils Conference & Exhibition: Price Outlook 2002/2003. The two-day conference, featuring leading industry speakers from Malaysia and around the world, was opened by YB Dato' Seri Dr. Lim Keng Yaik, Minister of Primary Industries.
Commenting on the introduction of the Crude Palm Oil Futures (CPO Futures) and Kuala Lumpur Inter-Bank Offered Rates Futures into MDEX's electronic trading system, Abdul Jabbar said the move has been successful.
"Confidence has kicked in swiftly and surely.
"For example, the daily average volume of CPO Futures in the year 2001 was 1,874 lots per day. After migration to the new electronic system, daily average volume has reached 2,815 lots a day to date - an increase of 42%," he said.
Abdul Jabbar said the CPO Futures is the leading benchmark for the pricing of crude palm oil internationally.
"The volatility of crude palm oil prices has clearly increased the need for an effective pricing and hedging medium.
"In this respect, I am confident that MDEX will continue to provide this role efficiently and cost-effectively," Abdul Jabbar added.
