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

Gold Futures (FGLD)

Commodity Derivatives

To Access BMD product prices / code on CME GLOBEX® Electronic Trading Platform

Example:

Accessing BMD product prices / code on CME GLOBEX Electronic Trading Platform
FGLD: BMD\FGLD\OCT14
Please type BMD\FGLD\relevant contract month code
FKLI: BMD\FKLI\Dec14
Please type BMD\FKLI\relevant contract month code
FCPO: BMD\FCPO\MAR15
Please type BMD\FCPO\relevant contract month code
FPOL: BMD\FPOL\MAR15
Please type BMD\FPOL\relevant contract month code
KLIBOR: BMD\FKB3\MAR15
Please type BMD\FKB3\relevant contract month code
3 YRS BOND: BMD\FMG3\MAR15
Please type BMD\FMG3\relevant contract month code
5 YRS BOND: BMD\FMG5\MAR15
Please type BMD\FMG5\relevant contract month code
OKLI: BMD\OKLI\DEC14
Please type BMD\OKLI\relevant contract month code

Education

Learn more about Derivatives

Gold Futures (FGLD)

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What is FGLD?

FGLD is a small-sized Ringgit Malaysia (“RM”) denominated gold futures contract traded on Bursa Malaysia Derivatives, providing market participants exposure to international gold price movements at a lower entry cost.

The pricing of the FGLD contract in local currency removes the need for Malaysian participants to purchase foreign currency and therefore removing exposure arising from foreign currency fluctuations.

Each FGLD contract is equivalent to 100 grams of gold bullion. The small size has been designed to provide accessibility to all, but also flexibility for those wanting greater exposure. For the retail player wanting smaller exposure, the small size provides affordability. For the industrial user requiring larger exposure, the contract can be traded in multiple lots at a time (e.g. 5 lots, 10 lots etc).

As a cash-settled contract, no delivery of physical gold is required. Instead, the FGLD contract will be settled on expiry using the cash equivalent of the amount of gold purchased (e.g. 100 grams), calculated using the London AM Fix price (in USD) on the final trading day converted into RM.

For example: 

On the Final Trading Day, if the London Gold AM Fix price is USD1,300 per troy ounce and the exchange rate is USD1 = RM3.0800:

  1. Conversion of the gold price from USD to RM will be: 1,300 x 3.0800 = RM4,004 per troy ounce.
  2. Conversion from troy ounce into grams: RM4,004/31.1034768 = RM 128.731589260786 per gram (1 troy once = 31.1034768 grams)
  3. Final Settlement Value will be RM128.75 per gram (rounded to the nearest RM0.05),
  4. Contract Value will be RM128.75 per gram x 100 grams = RM12,875.

The London AM Fix price is the global benchmark for spot gold prices, and the settlement of the FGLD contract in accordance with this price characterizes the FGLD contract as an instrument that tracks the international gold market closely.

The final trading day for each FGLD contract will be the last common business day in London and KL. Please refer to our website for the final trading day for each contract month.

For more on the London Fix, please refer to the website of The London Gold Market Fixing Limited.

Product Information

Ticker Code

  • Bloomberg : FGDA Cmdty CT (Go)
  • Thomson Reuters : <FGLD> + <Month Code> + <Year Code>, ie for <FGLDZ3> DEC3 contract
  • Interactive Data : F:FGLD\Mnn, where M is month code and nn is year number. Example F:FGLD\Z13

Market Update & Product Guide

Resources for Download

Brochure
English | BM | Chinese
417 KB | 6 MB | 4 MB (PDF)

Contract Specification
English | BM | Chinese
150 KB | 2 MB | 333 KB (PDF)


Contract Specification

Gold (FGLD)
Contract Code FGLD
Underlying Asset Gold assayed to a minimum of 995 fineness
Settlement Method Cash Settlement
Contract Size 100 grams
Price Quotation Ringgit Malaysia per gram
Minimum Price Fluctuation RM 0.05 per gram
(or RM5 per tick)
Daily Price Limit There must be no trading at a price more than 10% above or below the settlement prices of the preceding Business Day (“the 10% Limit”) except as provided below:
  1. If spot month Contract trades at the 10% Limit, the Exchange will announce a 10-minute cooling off period (“the Cooling Off Period”) for Contracts of all contract months (including the spot month) during which trading may only take place within the 10% Limit for Contracts of all contract months (including the spot month).

  2. After the Cooling Off Period, Contracts of all contract months (including the spot month) will be specified as interrupted for a period of 5 minutes, after which the price limit will be expanded to 20%. The prices traded for Contracts of all contract months (including the spot month) must then not vary more than 20% above or below the settlement prices of the preceding Business Day (“the 20% Limit”).

  3. If spot month Contract trades at the 10% Limit less than 30 minutes before the end of the first trading session, the 10% Limit will apply to Contracts of all contract months (including the spot month) for the rest of the first trading session, and the 20% Limit will apply to Contracts of all contract months (including the spot month) during the second trading session.

  4. If spot month Contract trades at the 10% Limit less than 30 minutes before the end of the second trading session, the 10% Limit will apply to Contracts of all contract months (including the spot month) for the rest of the Business Day.

  5. On any Business Day other than the Final Trading Day, the price limits in the above paragraphs apply to trades in Contracts of all contract months including the spot month. On the Final Trading Day, the price limits in the above paragraphs do not apply to trades in spot month Contracts.
Speculative Position Limit The maximum number of net long or net short positions for all months combined which a client or a participant may hold or control is 25,000 contracts.
Trading Hours Monday to Friday
Trading Sessions: (Malaysian Time)
0900 – 1230 hours
1430 – 1900 hours

Business Days:
Follows KL Business Days
Contract Months Spot month; and
Next 3 calendar months; and
Any February, April, June, August, October and December falling within a 12 month period beginning with the spot month.
Final Trading Day Last common Business Day of the spot month in both London and KL.

Notes:

If the last Business Day of the spot month is a holiday in London, the Final Trading Day will be the first preceding Business Day that is not a holiday in London.

A new contract will be available for trading on the first KL Business Day of the following month.

Apart from the expiring contract, all other contracts continue to trade up to the last KL Business Day of each calendar month.
Final Settlement Value The Final Settlement Value will be calculated using the London Gold AM Fix (quoted USD/troy oz) on the Final Trading Day adjusted for conversion into RM/gram.

USD/RM conversion rate
1700 hours middle rate published on the Final Trading Day on the Bank Negara Malaysia website.

Conversion from Troy Ounce to Grams
1 troy oz = 31.1034768 grams.

Rounding Up/Down
Final Settlement Value to be rounded to the nearest RM0.05.

  • Disclaimer: All references to The London Gold AM Fixing prices are used with the permission of The London Gold Market Fixing Limited. The London Gold Market Fixing Limited and Bursa Malaysia Derivatives Bhd accept no liability or responsibility for the accuracy of the prices or the underlying product to which the prices may be referenced.