Bursa Malaysia Derivatives Berhad (BMD) and Dalian Commodity Exchange (DCE) today cemented the agreement on joint collaboration for the annual China International Oils and Oilseeds Conference (CIOC) for the next three years. The continuing working relationship, which was established in 2006, reflected the commitment by Malaysia and China to promote and further progress the edible oils markets. In addition, CIOC 2010 serves to stimulate global players' involvement in the futures market and also increase awareness of BMD's and DCE's offerings in the palm oil space.
Commenting on the extension of the partnership with DCE, Dato' Yusli Mohamed Yusoff, Chief Executive Officer of Bursa Malaysia Berhad and Chairman of BMD said, "We certainly see the value in our continued collaboration with DCE which has been fruitful in developing the offerings and growth of the edible oil markets. In CIOC lies as well the common aim of promoting the growth and trading of edible oils and palm futures contracts, and Bursa Malaysia is pleased that such objectives have been met throughout the years. We are confident this will pave way for more similar opportunities towards the sustainable growth of the edible oils industry within Malaysia and China."
DCE President Liu Xingqiang said at the signing ceremony that the two exchanges have been cooperating for five years. Mr. Liu said, "Thanks to the care and support of related departments and leaders in both China and Malaysia, as well as the joint efforts of both organisations, the China International Oils and Oilseeds Conference has grown into a key industry brand conference. During the last five years, the DCE and Bursa Malaysia's oils and oilseeds products, as well as the development of the market as a whole have achieved a new historical leap." Mr. Liu said that in order to further promote cooperation between the two exchanges and the development of the oils and oilseeds industry, the DCE and Bursa Malaysia have agreed to sign an agreement to continue the joint hosting of the CIOC.
At the signing ceremony, Dato' Yusli also highlighted that the Exchange's clearing house, Bursa Malaysia Derivatives Clearing, now accepts Renminbi (RMB) as margin collateral for trading in the Malaysian derivatives market. Dato' Yusli said, "This move signifies the importance of China traders participating in our market, hence we have made the Malaysian futures market appealing and accessible to them via accepting the Chinese currency RMB as margin deposit."
This year's installment which takes place on 6-7 November 2010 in Guangzhou, China, is already gaining its stature as one of the region's prominent oils and oilseeds conferences, attracting key government officials from China and Malaysia, as well as industry-leading edible oils experts, producers and traders globally. CIOC 2010 will be expecting a turnout of over 800 participants worldwide from various related organisations in the industry. CIOC has been a successful platform for industry experts and traders to deliberate on the latest developments and market dynamics which will impact the Malaysian and China edible oils market. Among some of the interesting topics to be discussed at the two-day conference are 'Current Situation and Prospect of China's Macroeconomy', 'China's Oils and Oilseeds Industry Situation and Development Prospect', 'Palm Oil Production and Supply Outlook 2010/2011' and 'Is Your Hedge Working Well - Discussion on Risk Management Oils and Oilseeds Market.'