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Thursday November 6, 2008

Expanding derivatives

KUALA LUMPUR: Bursa Malaysia is looking at expanding the derivatives and Islamic securities markets in the long term.

Chief executive officer Datuk Yusli Mohamed Yusoff said it would target the commodities sector in the derivatives market, and real estate investment trusts (REITs) and exchange-traded funds (ETFs) for Islamic securities.

According to Yusli, it is important to continue expanding the CPO derivatives market to keep its relevance.

“Over time, these commodity markets (in Malaysia) have become less relevant (globally) and so, we must continue to develop our CPO market,” Yusli told a press briefing Tuesday.

“The CPO is a major contributor to the Malaysian economy and it is important that we do not lose the price setting of the edible oil in the country,” he added.

Yusli said there were also plans for an Asian Islamic ETF that could be the first of its kind in the world.

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