News
Bursa Malaysia, Joint Asian Derivatives and SGX-DT sign MOU to explore a licensing agreement
BackJan 23, 2006
| General Announcement Reference No BM-060123-68588 |
| Company Name | : | BURSA MALAYSIA BERHAD |
| Stock Name | : | BURSA |
| Date Announced | : | 23/01/2006 |
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| Type | : | Announcement |
| Subject | : | Bursa Malaysia, Joint Asian Derivatives and SGX-DT sign MOU to explore a licensing agreement |
Contents :
We wish to inform that Bursa Malaysia Berhad ("Bursa Malaysia") has today signed a Memorandum of Understanding ("MOU") with Singapore Exchange Derivatives Trading Limited ("SGX-DT") and Joint Asian Derivatives Pte. Ltd. ("Joint Asian Derivatives") (the CBOT Singapore Pte. Ltd. and SGX-DT joint venture company) to explore a licensing agreement for the use of Bursa Malaysia's crude palm oil futures settlement price.
The licensing agreement will allow Joint Asian Derivatives Exchange ("JADE") to use the settlement prices of Bursa Malaysia's crude palm oil futures contract to price its proposed palm oil futures contract. Palm oil futures are among the agricultural suite of Asian commodities derivatives which are being considered initially for trading on the JADE electronic trading platform. Other product suites will include energy and metals.
The proposal to license the use of Bursa Malaysia's crude palm oil futures settlement price is part of Bursa Malaysia's strategy to internationalise the crude palm oil futures contract and aims to further profile Malaysia's position as the largest producer of palm oil.
The MOU does not create legally binding obligations on the parties, and will not have any financial impact on Bursa Malaysia.
This announcement is dated 23 January 2006.