MDEX ended open outcry floor trading on Thursday, 27 December 2001 and commenced electronic trading today Friday, 28 December 2001 for MDEX's Crude Palm Oil Futures and three-month KLIBOR Futures. The full range of MDEX products, including KLSE CI Futures and Options contracts are electronically traded.
As at close of trading on 28 December 2001, MDEX registered 231 contracts on the three month KLIBOR Futures, 891 contracts on the KLSE CI Futures and 460 contracts on the Crude Palm Oil Futures.
MDEX Chairman Encik Abdul Jabbar Majid said the successful migration is another significant achievement in the development of MDEX as a comprehensive derivatives exchange.
"Going fully electronic is indeed an important step for MDEX to enhance efforts in providing efficient and cost-effective services for all its members and investors."
"This development also expands the capability of MDEX to offer a wider range of products and services, thus contributing to a higher degree of competitiveness for MDEX as a comprehensive derivatives exchange," he said.
MDEX Chief Operating Officer Dr Zaha Rina Zahari said it is the continued commitment and co-operation of MDEX members including locals, regulators and market participants that have contributed towards the on-going progress of MDEX.
"The success of going electronic is certainly a joint success between MDEX, its members and market participants. It is certainly important that with this enhancement in place, the active interest and participation in the derivatives market and industry continue to be enhanced," she said.
The development and implementation of electronic trading was undertaken by MDEX with the participation of relevant industry and market participants, involving joint integration testing and market simulation.
A survey among the MDEX members generally reveals that going electronic has been very efficient and smooth. The end users are supportive and extremely pleased with the first day performance.
MDEX is confident that over time the electronic trading system will lead to greater volume, liquidity and easier accessibility.
MDEX offers financial and commodity derivatives. Detailed information on MDEX is available at www.mdex.com.my.
