Financial Daily from THE HINDU group of publications
Wednesday, Mar 10, 2004
Financial Daily from THE HINDU group of publications Wednesday, Mar 10, 2004 |
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Agri-Biz & Commodities
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Commodity Exchanges Malaysian derivatives, securities riding high G. Chandrashekhar
Recently in Kuala Lumpur IT has been a time of highs for both derivatives and securities industry in Malaysia. Continued positive growth for the securities and derivatives markets is expected in the current year too, according to Mr Yusli Mohamed Yusoff, chief executive officer of Kuala Lumpur Stock Exchange (KLSE) and director of Malaysian Derivatives Exchange (MDEx). The KLSE composite index recently recorded a 4-year high at 885.34 points in February 2004, superseding the highest record of 817 points in 2003. In 2002, the index was at 808.7 and 736 in 2001. The derivatives market was equally exciting with trading volumes hitting historic highs. Specifically, in crude palm oil futures, the total volume of trade cumulative to date grew by over 45 per cent as at market close on March 2 this year, compared to same date in 2003, he added. In its ongoing efforts to enhance investor participation and boost liquidity, MDEx launched three new products last year including the 3-year and 10-year Malaysian Government Securities Futures, and a modification of the KLSE composite index futures. Palm Kernel Oil Futures: MDEx launched palm kernel oil (PKO) futures last month. "While contributing to the deepening and broadening of the derivatives market, the introduction PKO futures will enable participants to be in a better position to monitor, manage and therefore, control the pricing and marketing of their products more effectively," Mr Yusli added.
More Stories on : Commodity Exchanges
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