$AFFIN (5185.MY)$ Anyone know what happen?
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Malaysian sewer oil futures are expected to be listed next month.
Malaysia is expected to launch sewer oil futures contracts in December!
Foreign media reported that the Malaysian exchange $BURSA (1818.MY)$Director Mohamad Sharil revealed to the media at the International Oil and Fat Conference held in Dalian, China.
“Currently in the final stage awaiting regulatory approval. Therefore, this futures will be launched in December or the first quarter of next year depending on the progress of approvals.”
Following the launch of soybean oil futures in March, the abandoned edible oil futures, commonly known as 'gutter oil', are the new products introduced by the derivatives division of the Malaysian Exchange. Sharil stated that as the exchange with the most trading liquidity for crude palm oil futures globally, the Malaysian Exchange is striving to establish itself as a major player in gutter oil trading.
Waste oil is the main raw material for producing renewable biofuels, widely used in the aviation sector. However, about 0.54 million tons of waste oil in Malaysia are not effectively treated and are discarded each year, with huge development potential.
As the world's second largest palm oil export country, Malaysia exported nearly 0.3 million tons of biodiesel last year, with domestic consumption of approximately 1.1 million tons.
Sharlin also pointed out that the market is driven by sustainable development initiatives and biofuel initiatives, leading to growing demand for waste oil.
"Our gutter oil futures contract is specifically designed for the Southeast Asian market, meeting the demands and trends of the regional industry."
Previously, Bloomberg cited sources reporting that this futures will be cash settled, and priced based on the offshore price (FOB) published by s&p global csi commodity equity index.
In addition, this contract is denominated in US dollars, with a minimum trading unit of 10 lots, with the minimum price fluctuation for each hand of 1 yuan per ton.
Malaysia is expected to launch sewer oil futures contracts in December!
Foreign media reported that the Malaysian exchange $BURSA (1818.MY)$Director Mohamad Sharil revealed to the media at the International Oil and Fat Conference held in Dalian, China.
“Currently in the final stage awaiting regulatory approval. Therefore, this futures will be launched in December or the first quarter of next year depending on the progress of approvals.”
Following the launch of soybean oil futures in March, the abandoned edible oil futures, commonly known as 'gutter oil', are the new products introduced by the derivatives division of the Malaysian Exchange. Sharil stated that as the exchange with the most trading liquidity for crude palm oil futures globally, the Malaysian Exchange is striving to establish itself as a major player in gutter oil trading.
Waste oil is the main raw material for producing renewable biofuels, widely used in the aviation sector. However, about 0.54 million tons of waste oil in Malaysia are not effectively treated and are discarded each year, with huge development potential.
As the world's second largest palm oil export country, Malaysia exported nearly 0.3 million tons of biodiesel last year, with domestic consumption of approximately 1.1 million tons.
Sharlin also pointed out that the market is driven by sustainable development initiatives and biofuel initiatives, leading to growing demand for waste oil.
"Our gutter oil futures contract is specifically designed for the Southeast Asian market, meeting the demands and trends of the regional industry."
Previously, Bloomberg cited sources reporting that this futures will be cash settled, and priced based on the offshore price (FOB) published by s&p global csi commodity equity index.
In addition, this contract is denominated in US dollars, with a minimum trading unit of 10 lots, with the minimum price fluctuation for each hand of 1 yuan per ton.
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$MEGAFB (5327.MY)$ wake up la…
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$GREATEC (0208.MY)$ climb so slow