Brokers
Local Participants (LP)
A Local Participant (Locals) is a professional derivatives trader who trades for his/her own account. In essence, a self-employed trader. With the recent easing of entry requirements, those who aspire to be a Local Participant are not required to pass the licensing examination, show the relevant academic qualification and industry experience.
Locals have grown alongside the Exchange over the years, both in terms of numbers and trading participation in derivatives products.
As a proprietary trader, they have unlimited trading potential. They trade as a business and have the option of working flexi hours from anywhere.
Criteria for Local Participants (LP)
To be eligible for admission as a Local Participant, an applicant must satisfy the Exchange that he:
- is of good character and has not been convicted of any offence involving fraud or dishonesty;
- is not an undischarged bankrupt;
- has made arrangement to trade through a Trading Participant;
- has a risk capital of such amount as prescribed by the Exchange;
- has entered into an arrangement with a Clearing Participant for the clearing of any of the applicant’s Contracts which are traded on the Exchange;
- is at least 21 years old;
- is not a director or employee of any Trading Participant unless as approved by the Exchange; and
- complies with such other requirements as the Exchange may prescribe.
Frequently Asked Questions
Admission Requirements for Local Participants Of Bursa Malaysia Derivatives Berhad
[Date as at: 13 July 2018]