Bursa Malaysia Derivatives Berhad (BMD) announced that it had been named the ‘Best Emerging Exchange of the Year’ at the Futures & Options World (FOW) Awards for Asia held in Singapore on 23 September 2015.
“This award follows the recognition granted by the US Commodity Futures Trading Commission (CFTC) that Bursa Malaysia possesses the attributes of an organised exchange and adopts comparable practices for market integrity and customer protection,” the exchange said in a press release.
Bursa Malaysia CEO Dato’ Tajuddin Atan said: “It has been an eventful year for the derivatives market.”
It started in January with the CFTC registering BMD as a Foreign Board of Trade, allowing US participants to directly access the BMD market through the electronic order entry and trade matching system on CME’s Globex electronic trading platform.
“The opening of the BMD market to US participants is the final regulatory building block for BMD. It has opened up more opportunities for US participants to trade, hedge and arbitrage on our derivatives products,” Dato’ Tajuddin Atan said.
The FOW Awards for Asia also voted Kenanga Deutsche Futures Sdn Bhd as the ‘Emerging Market Broker of the Year’ for 2015.
The new award singled out Kenanga Deutsche Futures for its tangible innovation and growth contribution to the futures market. This includes contract growth as well as revenue and profit growth.
Publisher of FOW William Mitting said: “Kenanga Deutsche Futures has clearly put in tremendous efforts to grow the derivatives business.
“The judges felt it is a leader in the institutional market especially among the international institutions. Its international outreach programme has also been excellent, resulting in the set-up of a lot of back-end business connections for growth.”
Kenanga Deutsche Futures has been ranked top broker in Malaysia for 12 consecutive years since 2003.
In 2014, the broker accounted for about 13.5% of execution market share of the 12.4 million contracts traded on BMD.
“We are honoured to be recognised,” said Azila Abdul Aziz, CEO and head of listed derivatives at Kenanga Deutsche Futures. “We remain true to what we do best and are continuously diversifying our profile of international clients who recognise the value of our approach.”