Bursa Malaysia's US Dollar-denominated crude palm oil futures contract, known as FUPO, marked its entrance today into the Malaysian derivatives market. As a cash-settled contract, FUPO is aimed to attract more foreign traders and investors who wish to trade in the US dollar currency.
Dato' Yusli Mohd Yusoff, CEO of Bursa Malaysia Berhad, said, "This first multi-currency product from Bursa Malaysia offers a lot in terms of trading opportunities to a new segment of the market. We expect that, like any other new product in the market, it will take time before the numbers increase but we are confident of the prospect of this unique product which meets the international demand for currency risk management tools."