No Exam For New BMD Traders

Bursa Malaysia is easing the entry requirement for individuals aspiring to become professional derivatives traders or local participants by doing away with examinations.

All a candidate has to do now is to attend a two-day familiarisation programme to become a professional derivatives trader who trades for his own account.

Chief executive officer Datuk Tajuddin Atan said by attending the programme candidates no longer need to take the licensing examination or show the relevant academic qualification and industry experience.

"This is part of the exchange's initiative to increase the number of local participants in the market. This liberalisation measure signifies our commitment to grow the local participants base as they contribute greatly to market liquidity," he said in a statement today.

He said traders can now easily manage their own portfolio, while at the same time enjoying the many benefits available including fee rebate and tax abatement.

"With the advance of internet trading, they can trade anywhere, anytime," he said.

Tajuddin said local participants can trade with their own funds and are not permitted to conduct trades on behalf of clients and are eligible for exchange and clearing fees rebate if they trade 1,000 contracts per month or more.

He added that local participants can trade in all Bursa Malaysia Derivatives' products.

Candidates can visit Bursa Malaysia website at www.bursamalaysia.com or call 03:2034 7242 for further information. -- BERNAMA

Source: http://www.btimes.com.my/Current_News/BTIMES/articles/20120103140342/Article/index_html#ixzz1iNI711v9

Palm Oil Sell If 1130am Below 3300

As for yesterday, CPO Futures hourly traders who had put a Sell Stop order at 3293 had saved some losses due to taking no risk on overnight positions when palm oil futures price was traded below the buying price 3308 to a certain level.

CPO Futures hourly traders who hold the buying position may have to take a bitter pill today by waiting until 1130am to do Stop and Reverse position or wait to do Sell Stop 3273 LIMIT 3268 order. If CPO Futures market is opened below 3268, then selling 3268 or better will be the Sell Limit order.

CPO Futures hourly indicator will cut loss and turn sell at 1130am today as long as the palm oil futures price is traded 3299 and lower.