Development of derivatives market in malaysia present
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The document provides an overview of the development of the derivatives market in Malaysia. It discusses the establishment of Bursa Malaysia Derivatives Berhad (BMD) in 1975 and its role in operating Malaysia's futures and options exchange. It then summarizes the key trading products and highlights some of the major developments in the Malaysian derivatives market during the 1980s, 1990s, and 2000s, including the launch of crude palm oil futures in 1980 and stock options in 2003.
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This document provides an overview of the development of Islamic banking and finance in Malaysia. It discusses the historical milestones and stages of development of Islamic banking, takaful (Islamic insurance), the Islamic capital market, and the roles of the Shariah Advisory Council and Labuan International Offshore Financial Centre in developing the Islamic financial system. The framework established in Malaysia has served as a model for the development of comprehensive Islamic financial systems internationally.
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Islamic banking first began in Malaysia in 1983 with the establishment of the first Islamic bank. Since then, Islamic banking has grown significantly. By 2002, total Islamic banking assets made up 8.9% of total banking assets in Malaysia. Many conventional banks also began offering Islamic banking products and services. Regulations and oversight from Bank Negara Malaysia have helped develop and expand the Islamic banking sector to become a key part of Malaysia's dual banking system.
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The document discusses various aspects of financial markets and the capital market in India. It defines key terms like markets, securities market, and capital market. It describes the primary constituents of the capital market as issuers, investors, intermediaries, infrastructure and instruments. It provides details about regulatory bodies like SEBI and laws governing the securities market in India. It also summarizes the evolution of stock exchanges in India like BSE and NSE and compares their trading systems.
Stock Exchange, Stock Market & SEBI Functions
The document provides information about stock markets and exchanges in India. It discusses the history and functions of the two major stock exchanges: the Bombay Stock Exchange (BSE), established in 1875, and the National Stock Exchange (NSE), established in 1993. It notes that BSE is the oldest stock exchange in India, located in Mumbai, while NSE was incorporated to increase transparency in the markets. The document also outlines the key functions of stock exchanges, which include providing a marketplace for buyers and sellers, mobilizing savings, ensuring liquidity and regulating listed companies. It concludes with details about the Securities and Exchange Board of India (SEBI), the regulatory body for financial markets in India established in 1988.
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The National Stock Exchange of India (NSE) is a leading stock exchange located in Mumbai. It was incorporated in 1992 and recognized as a stock exchange by SEBI in 1993. NSE launched electronic screen-based trading in 1994 and has since become the largest stock exchange in India with over 1950 listed companies. It is known for its flagship indices like NIFTY 50 and trading in various financial markets and products like equities, derivatives, debt, currencies and more.
Commodity Market - Module III
Module – III Commodity Derivatives:
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The document provides information about the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE). It discusses the founding, location, leadership, and operations of both exchanges. NSE was founded in 1992 in Mumbai and electronic screen-based trading was introduced. BSE was established in 1875 in Mumbai and was the first stock exchange in Asia. Both exchanges facilitate trading of various financial instruments and have listings of over 2000 and 5000 companies respectively.
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Secondary Market
The document provides information on secondary markets and stock exchanges in India. It defines secondary markets and stock exchanges, and describes their key functions such as providing liquidity, mobilizing funds, and facilitating valuation of securities. It also outlines the evolution of stock exchanges in India from the pre-reform era to the modern, technology-driven exchanges established post-1991 reforms. Major Indian stock exchanges like BSE and NSE are introduced along with important concepts related to stock markets such as listing of securities, dematerialization, and depository organizations.
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Development of derivatives market in malaysia present
- 1. DEVELOPMENT OF DERIVATIVES MARKET IN MALAYSIA Prepared by: ANITH SYAZWANI BINTI ABDUL RAHIM NOORFAZILAH BINTI MUHAMAD JAHARI NURUL NADIAH BINTI ZAINUN ROSSAFINAS BINTI ABDUL HANIFF SITI AMIRAH SOLEHAH BINTI OMAR
- 2. OVERVIEW • Bursa Malaysia Derivatives Berhad (BMD), formerly known as Malaysia Derivatives Exchange Berhad (MDEX) • 75% owned subsidiary of Bursa Malaysia Berhad which provides, operates and maintains a futures and options exchange • BMD operates the most liquid and successful crude palm oil futures (FCPO) contract in the world. • BMD operates under the supervision of the Securities Commission and is governed by the Capital Market and Services Act 2007 • BMD also falls under the jurisdiction of the Ministry of Finance of Malaysia • Offer investors the security of trading on a regulated Exchange with infrastructure and regulations comparable to that of established markets worldwide
- 4. TRADING PRODUCTS • Futures – First known futures market took place in Japan with the formation of Kojima Rice Futures in the 18th Century – 1980’s all futures exchange trades in the USA – Mid 1980’s futures exchange been separated into regions • Options – Introduced in the US Capital Markets in the early 18th century – April 1973, more organized options trading was been introduced at the Chicago Board of options • Swap – In 1977, first long structured swap “Morgan Guarantee” and “Banque Paribas” swapped the export contract for the Caracus Metro (FRF against USD) – First interest rate swap contract between “Citibank” and ‘Continental Illinionis” • Warrants
- 5. 1980’s • Malaysia joined the derivative market trading community with the launched of Crude Palm Oil Futures at KLCE in October 1980 • Other national agro-based commodities (rubber, tin, palm kernel and cocoa) be trades
- 6. 1990’s • May 1990, warrants also be known as TSR’s were first be introduced in Malaysia by Rashid Hussein • KLCE was named as the first South – East Asian multi commodities futures trading, 91 • Malaysia becoming the first nation outside Japan traded the local based index with the trading of Futures KLCI at KLOFFE, Dec 95 • 3 - months KLIBOR was launched at Malaysia Monetary Exchange (MME), May 96 • BMDM has introduced serial months as maturity months to KLIBOR since Sept 97 due to currency crisis • KLCE and MME was merged due to financial crisis to formed COMMEX, Dec 98 • KLOFFE entered to an agreement with KLSE to be under KLSE management, Jan 99
- 7. 2000’s • KLOFFE joins the elite financial centers by trading KLCI options on Oct 2000 • KLOFFE and COMMEX was merged to form a single derivative market known as MDEX, May 01 • MDEX launched it first bond futures derivative instrument known as FMG5 contracts, March 02 • Pre – launched of long awaited stock options in March 2003 but it was postponed due to the crisis in Iraq and slowdown of the global economy • Swap contract begin to register drastically increased from USD 5 billion in 2001 to USD 47 billion in 2004 • KLSE has been demutualization with BMSB, 05 • MDEX known as BMDB and MDCH as BMDC, 05 • Malaysian companies issues a “call warrant” reflecting of repackaging a warrant and to be listed and traded in BMDB • BMD partnering with CME group in order to be listed on CME Globex, Sept 09
- 8. CONCLUSION • BMDB is a multi-derivatives exchange, covering future, option, swap and warrant in term of commodity and financial • The instruments are covered as the thrust of the book in terms of concepts and applications