Bursa Malaysia

Pin Menu

Click here to unpin menu.
You're here: Market » Home » Derivatives » Products » Commodity Derivatives » USD RBD Palm Olein Futures (FPOL)

Products

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

USD RBD Palm Olein Futures (FPOL)

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

USD RBD Palm Olein Futures (FPOL)

FPOL Banner
 

Ticker Code

  • Bloomberg: FPOA Comdty CT (Go)
  • Thomson Reuters: <1FPOL> + <Month  
     Code> + <Year Code>
     Example: <1FPOLU4> SEP14 contract
  • Interactive Data: F:FPOL\MYY, where M is month code and YY is year number
    Example: F:FPOL\U14 ; SEP14 contract

Resources for Download

Brochure
English | Chinese
0.813 KB | 0.818 MB (PDF)

Contract Specification
English | Chinese
120 KB | 0.172 MB (PDF)

Get Started

  • Contact our Brokers to know more.

What is FPOL?

FPOL is a US Dollar ("USD") denominated Refined, Bleached and Deodorised (RBD) Palm Olein Futures contract traded on Bursa Malaysia Derivatives. Being a refined palm product, FPOL specifically provides palm refiners, end users of palm olein and foreign palm olein importers a transparent price discovery, regulated trading and hedging instrument.

Why FPOL can be a good hedging instrument?

Manage RBD Palm Olein Price Risk

End users and importers can use FPOL to manage risk and hedge against the risk of unfavourable price movement in the physical market

Manage Palm Refining Margin

Refiners can use FPOL to manage their refining margins. Together with FCPO, refiners can now lock in their refining margins in paper. This can be achieved with going long on FCPO and short on FPOL.

Exposure to RBD Palm Olein Price Movements

Traders can use FPOL to gain leveraged exposure to movements in RBD Palm Olein prices.

Gain immediate exposure to commodity market

Via FPOL, global fund managers, commodity trading advisers and proprietary traders are able to gain exposure to one of the largest edible oil in the world

 

Contract Specification

(FPOL)
Contract CodeFPOL
Underlying Instrument RBD Palm Olein
Settlement Method Physical Delivery via e-Negotiatied Storage Receipts (e-NSRs).  Ex-tank as per FCPO
Contract Size 25 metric tons
Price Quotation US$ per metric ton
Minimum Price Fluctuation US$0.50 per metric ton
Contract Months Spot month and the next 5 succeeding months, and thereafter, alternate months up to 24 months ahead.
Trading Hours

Monday to Friday
Trading Sessions: (Malaysian Time)
0900 - 1200 hours
1330 - 1800 hours

Business Day:
Follows KL Business Days

Daily Price Limit

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:-

  • the contract months shall not be specified as interrupted;
  • the 10% Limit shall be applied to all contract months (except the spot month) for the rest of the first trading session; and
  • 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.
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 Calendar Day to the 20th Calendar Day of the spot month, or if the 20th is a non-market day, the preceding Business Day.
Contract Grade and Delivery Points RBD Palm Olein of good merchantable quality at the option of the seller in approved tanks in Pasir Gudang and Port Klang.
 
(FPOL)
SpecificationInOut
FFA 0.07% 0.10%
M&I 0.10% 0.10%
I.V 56 min 56 min
Melting Point 24 max 24 max
Colour (5 ¼ Lovibond Cell) 2.6 Red max 3 Red max
 Speculative Position Limit 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.