KUALA LUMPUR, Dec 10 — Bursa Malaysia Derivatives (BMD) has won the “Exchange of the Year-Asia Pacific” Award for best innovation, achievement and commitment to the market in the global cleared derivatives industry.
It received the award from London-based Global Investor Group at the FOW International Awards 2020, recently.
Bursa Malaysia Bhd chief executive officer Datuk Muhammad Umar Swift said the award was a significant honour to end the year with, validating the exchange operator’s commitment to serve its clients’ needs in providing a reliable hedging instrument against price volatilities, which have been critical given the Covid-19 pandemic this year.
“It has been a record year and on behalf of BMD, I would like to convey our appreciation to the industry for the trust and confidence in Bursa Malaysia’s derivative product offerings in managing price and risk exposures,” Muhammad Umar, who is also BMD chairman, said in a statement today.
As of November 2020, about 13.5 million contracts or 337.5 million metric tonnes (MT) were traded on BMD, representing approximately 17 times of Malaysia’s total palm oil production and 4.5 times of global palm oil production.
Over the last 12 months, BMD achieved over 20 trading record highs across all its products.
The latest historical record was achieved on October 28, 2020 with the total trading volume for Crude Palm Oil Futures Contract recording a new high of 12 million lots, surpassing the previous record of 11.91 million lots achieved in 2017.