The world's first end-to-end Syariah-compliant commodity trading platform, Bursa Suq Al-Sila' (BSAS), has added RBD Palm Olein as a new commodity offering.
In a statement today, Bursa Malaysia said this would provide more diverse product offerings for clients trading on the BSAS platform.
"The inclusion of RBD Palm Olein complements BSAS's existing commodities, namely Crude Palm Oil and Plastic Resin," it said.
The stock exchange said trading in the new commodity began on April 17 and RM75 million worth of trades have been recorded as of April 23.
"We foresee this move to further boost trading volume and meet the demand for larger offerings particularly from clients in the Middle East.
"This will also increase the visibility of crude palm oil, the star crop in this region, and allow for greater participation from commodity players and refiners," Bursa Malaysia chief executive officer Datuk Tajuddin Atan said.
The daily average trading value on BSAS currently stands at RM1.5 billion, a three-fold increase compared to 2010, he added.