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BURSA MALAYSIA DERIVATIVES BERHAD RULE AMENDMENT PERMITS HIGHER SPECULATIVE POSITION LIMIT FOR THREE MONTH KLIBOR FUTURES CONTRACT ("FKB3").

BackDec 15, 2005

15 December 2005
BURSA MALAYSIA DERIVATIVES BERHAD RULE AMENDMENT PERMITS HIGHER SPECULATIVE POSITION LIMIT FOR THREE MONTH KLIBOR FUTURES CONTRACT ("FKB3")

Bursa Malaysia Derivatives Berhad (Bursa Derivatives) today announced an amendment to its Business Rules in relation to the revision of the speculative position limit for Three Month KLIBOR Futures contract ("FKB3"). The amendments represent an increase in the speculative position limit for contracts from the current 2,000 contracts to 5,000 contracts.

Bursa Malaysia Berhad's Chief Legal Officer, Selvarany Rasiah said the amendment was made as part of Bursa Derivatives' ongoing efforts to review and update current contract specifications in line with market needs. "The current framework of the speculative position limit for Three Month KLIBOR Futures contract was introduced in 1996 to reflect market activity at the time. Given significant increases in market activity since the introduction of the current framework, it is timely to introduce changes that better reflect market conditions today."

The new Rule states that a Client or a Participant acting alone or in concert with others shall not own or control an open position of more than 5,000 contracts net long or net short in all contract months combined.

The amendments will take effect on 3 January 2006. The complete text of the amendments is available for reference on Bursa Malaysia's website at www.bursamalaysia.com