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USD RBD Palm Olein Futures (FPOL) Specifications

EXCHANGE Bursa Malaysia Derivatives (BMD)
PRODUCT SYMBOL FPOL
UNDERLYING INSTRUMENT RBD Palm Olein
SETTLEMENT METHOD Physical Delivery via e-Negotiatied Storage Receipts (e-NSRs). Ex-tank as per FCPO
CONTRACT SIZE 25 metric tons
PRICING QUOTATION US$ per metric ton
TICK SIZE (Minimum Fluctuation) US$ 0.50 per metric ton
CONTRACT MONTHS Spot month, the next 5 succeeding months, and thereafter, alternate months up to 24 months forward
TRADING HOURS Monday to Friday Trading Sessions:
(Malaysian Time)
0900 – 1200 hours
1330 – 1800 hours

Business Day:
Follows KL Business Days

DAILY PRICE LIMIT With the exception of trades in the spot month, trades for future delivery of Crude Palm Oil in any month shall not be made, during any one Business Day, at prices varying more than 10% above or below the settlement prices of the preceding Business Day (“the 10% Limit”) except as provided below.

When at least 3 non-spot month contracts are trading at the 10% Limit, the Exchange shall announce a 10-minute cooling off period (“the Cooling Off Period”) for all contract months (except the spot month) during which trading shall only take place within the 10% Limit. Following the Cooling Off Period, all contract months shall be specified as interrupted for a period of 5 minutes, after which the prices traded for all contract months (except the spot month) shall not vary more than 15% above or below the settlement prices of the preceding Business Day (“the 15% Limit”).

If the 10% Limit is triggered less than 30 minutes before the end of the first trading session, the following shall apply:-

• The contract months shall not be specified as interrupted;

• The 10% Limit shall be applied to all contract months (except the spot month) for the rest of the first trading session; and

• The 15% Limit shall be applied for all contract months (except the spot month) during the second trading session.

If the 10% Limit is triggered less than 30 minutes before the end of the second trading session, the 10% Limit shall be applied to all contract months (except the spot month) for the rest of the Business Day.

TENDER PERIOD 1st Calendar Day to the 20th Calendar Day of the spot month, or if the 20th is a non-market day, the preceding Business Day.
FINAL TRADING DAY AND MATURITY DATE Contract expires at noon on the 15th day of the delivery month, or if the 15th is a non-market day, the preceding Business Day.
CONTRACT GRADE AND DELIVERY POINTS RBD Palm Olein of good merchantable quality at the option of the seller in approved tanks in Pasir Gudang and Port Klang.

Specification In Out
FFA 0.07% 0.10%
M&I 0.10% 0.10%
I.V 56 min 56 min
Melting Point 24 max 24 max
Colour (5 1/4 Lovibond Cell) 2.6 Red max 3 Red max
SPECULATIVE POSITION LIMIT The maximum number of net long or net short positions which a client or a participant may hold or control is:

  • 800 contracts for the spot month.
  • 10,000 contracts for any one contract month except for spot month.
  • 15,000 contracts for all months combined.

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