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BMD 3-Month Kuala Lumpur Interbank Offered Rate Futures (KLIBOR) (FKB3) Specifications

EXCHANGE Bursa Malaysia Derivatives (BMD)
PRODUCT SYMBOL FKB3
UNDERLYING SHARES Ringgit Interbank time deposit in the Kuala Lumpur Wholesale Money Market with a three month maturity on a 360-day year.
CONTRACT SIZE RM 1,000,000
Quoted in index terms (100.00 minus yield).
MINIMUM PRICE FLUCTUATION 0.01% or 1 tick.
CONTRACT MONTHS Quarterly cycle months of March, June, September and December up to 5 years ahead and 2 serial months.
TRADING HOURS First trading session:
(Malaysian Time) 9:00 am to 12:30 pm

Second trading session:
(Malaysian Time) 2:30 pm to 5:00 pm

FINAL TRADING DAY MATURITY DATE Trading ceases at 11:00 a.m. (Malaysian time) on the 3rd Wednesday of the delivery month or the 1 st Business Day immediately following the 3rd Wednesday of the delivery month if the 3rd Wednesday of the delivery month is not a Business Day.
FINAL SETTLEMENT Cash Settlement based on the Cash Settlement Value.
FINAL SETTLEMENT VALUE i. Calculated as 100.00 minus the Three Month KLIBOR as published by Reuters Ltd. On reference page “KLIBOR” at 11:00 hours (Malaysian time) on the Final Trading Day.

ii. In the event that the above calculation (i) cannot be made, the final settlement value shall be calculated as 100.00 minus the Three Month KLIBOR as published by Dow Jones Telerate Ltd on page number 46387 at 11:00 hours (Malaysian time) on the Final Trading Day.

iii. In the event that the above calculation (i) and (ii) cannot be made, the final settlement value shall be calculated as 100.00 minus the Three Month KLIBOR as obtained from Bank Negara Malaysia at 11.00 hours (Malaysian time) on the Final Trading Day.

In the event that none of the above 3 calculations can be made, the final settlement value shall be determined by the Exchange.

SPECULATIVE POSITION LIMITS Maximum number of net long or net short positions to be held:
• 5,000 contracts for all months combined.

 

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