BMB Crude Palm Oil Futures Contract Hits All Time High For Daily Volume
Bursa Malaysia Derivatives Berhad’s (BMD) crude palm oil futures (FCPO) contracts reached an all time high of 41,879 contracts for daily volume on 18 November 2010, surpassing the previous record of 37,231 contracts achieved previously on 13 June 2007. The FCPO recorded a healthy open interest at 76,106 contracts on 18 November 2010.
Dato’ Yusli Mohamed Yusoff, Chief Executive Officer of Bursa Malaysia Berhad and Chairman of BMD said, “This record high achievement is attributed to higher market volatility, supported by heighted interest by local and international traders as a result of our FCPO’s availability on CME Globex® electronic trading platform.”
The improvement in daily volume of FCPO contracts also spelled out increasing liquidity in the FCPO market.