OSK Futures and Options Sdn Bhd plans to set up electronic trading terminals in 15 more towns by the end of the year, its general manager Steven Lai said. It currently has 48 such terminals in 15 towns country-wide.
We are now in the process of identifying the new towns to locate the electronic trading terminals, he told the MDEX- OSK Derivatives Road Show 2003.
The company was also recruiting qualified futures broker representatives to be located in the new locations.
Lai said it had become necessary to establish more electronic trading terminals due to the growing popularity of crude palm oil futures trading, which had increased to some 7,000 contracts per day now, from 2,000 in December 2001.
Lai said there were now more brokers who held dual licences for trading in shares and in futures.
There are currently 990 dual-license brokers in the country, and the number is expected to climb, as many remisiers want to deal in futures as well to supplement their income, he said.
Currently, there are about 1,000 futures broker representatives.
As part of its strategy to widen the range of services for its clients, OSK had, from early this month, made available KLSE Composite Index futures in real time on its OSK188 web portal.