Products
Bursa Malaysia Derivatives (BMD) offers 3 categories of derivatives: Commodity Derivatives, Equity Derivatives and Financial Derivatives.
Commodity Derivatives
- Gold Futures (FGLD)
- Crude Palm Oil Futures (FCPO)
- USD RBD Palm Olein Futures (FPOL)
- Crude Palm Kernel Oil Futures (FPKO)
- USD Crude Palm Oil Futures (FUPO)
- Options on Crude Palm Oil Futures (OCPO)
- USD Tin Futures (FTIN)
To Access BMD product prices / code on CME GLOBEX® Electronic Trading Platform
Example:
| 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)
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:
- Conversion of the gold price from USD to RM will be: 1,300 x 3.0800 = RM4,004 per troy ounce.
- Conversion from troy ounce into grams: RM4,004/31.1034768 = RM 128.731589260786 per gram (1 troy once = 31.1034768 grams)
- Final Settlement Value will be RM128.75 per gram (rounded to the nearest RM0.05),
- 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)
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Contract Specification
| 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:
|
| 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.