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Bursa Malaysia Derivatives (BMD) offers 3 categories of derivatives: Commodity Derivatives, Equity Derivatives and Financial Derivatives.

Crude Palm Oil Futures (FCPO)

Commodity Derivatives

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FKLI: BMD\FKLI\Dec14
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FCPO: BMD\FCPO\MAR15
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Crude Palm Oil Futures (FCPO)

Contract Specification

Crude Palm Oil Futures (FCPO)
Contract CodeFCPO
Underlying Instrument Crude Palm Oil
Contract Size 25 metric tons
Minimum Price Fluctuation RM1 per metric ton
Daily Price Limits With the exception of trades in the spot month, trades for future delivery of Crude Palm Oil in any month shall not be made, during any one Business Day, at prices varying more than 10% above or below the settlement prices of the preceding Business Day ("the 10% Limit") except as provided below.

When at least 3 non-spot month contracts are trading at the 10% Limit, the Exchange shall announce a 10-minute cooling off period ("the Cooling Off Period") for all contract months (except the spot month) during which trading shall only take place within the 10% Limit. Following the Cooling Off Period, all contract months shall be specified as interrupted for a period of 5 minutes, after which the prices traded for all contract months (except the spot month) shall not vary more than 15% above or below the settlement prices of the preceding Business Day ("the 15% Limit").

If the 10% Limit is triggered less than 30 minutes before the end of the first trading session, the following shall apply:-

  1. the contract months shall not be specified as interrupted;
  2. the 10% Limit shall be applied to all contract months (except the spot month) for the rest of the first trading session; and
  3. the 15% Limit shall be applied for all contract months (except the spot month) during the second trading session.

If the 10% Limit is triggered less than 30 minutes before the end of the second trading session, the 10% Limit shall be applied to all contract months (except the spot month) for the rest of the Business Day.
Contract Months Spot month and the next 5 succeeding months, and thereafter, alternate months up to 24 months ahead
Trading Hours
  • First trading session: Malaysian time 10:30 a.m. to 12:30 p.m.
  • Second trading session: Malaysian time 3:00 p.m. to 6:00 p.m.
Speculative Position Limits The maximum number of net long or net short positions which a client or a participant may hold or control is:
  • 800 contracts for the spot month
  • 10,000 contracts for any one contract month except for spot month
  • 15,000 contracts for all months combined

The above position limit will be a combined limit for Crude Palm Oil Futures Contracts and Options on Crude Palm Oil Futures. (Please note that spot month futures limit will not be applicable to the options)
Final Trading Day and Maturity Date Contract expires at noon on the 15th day of the delivery month, or if the 15th is a non-market day, the preceding Business Day.
Tender Period 1st Calender Day to the 20th Calender Day of the spot month, or if the 20th is a non- market day, the preceding Business Day.
Contract Grade and Delivery Points Crude Palm Oil of good merchantable quality, in bulk, unbleached, in Port Tank Installations approved by the Exchange located at the option of the seller at Port Kelang, Penang/Butterworth and Pasir Gudang (Johor).

Free Fatty Acids (FFA) of palm oil delivered into Port Tank Installations shall not exceed 4% and from Port Tank Installations shall not exceed 5%.

Moisture and impurities shall not exceed 0.25%.

Deterioration of Bleachability Index (DOBI) value of palm oil delivered into Port Tank Installations shall be at a minimum of 2.5 and of palm oil delivered from Port Tank Installations shall be at a minimum of 2.31.
Deliverable Unit 25 metric tons, plus or minus not more than 2%.
 
Settlement of weight differences shall be based on the simple average of the daily Settlement Prices of the delivery month from:
  1. The 1st Business Day of the delivery month to the day of tender, if the tender is made before the last trading day of the delivery month; or
  2. The 1st Business Day of the delivery month to the last day of trading, if the tender is made on the last trading day or thereafter

Brochures Download

FCPO Brochure
English | Chinese
6 MB | 6 MB (PDF)

FCPO Specification
English | Chinese
1.659 MB | 1.713 MB (PDF)

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