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buy apple account( palm oil exchange eyes night trading to drive growth


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* Bursa Malaysia plans to boost business with night trading

* Palm oil traders/brokers say opportunity to align withothermarkets

By Mei Mei Chu and Naveen Thukral

KUALA LUMPUR, Aug 19 (Reuters) - The Bursa MalaysiaDerivatives Exchange (BMD) is aiming to ramp up participation inits benchmark palm oil contract with the launch of nighttrading, which traders say will align it with most globalmarkets that run nearly around the clock.

The BMD is set to launch after-hours trading in December forits crude palm oil futures contract that is the globalbenchmark for prices.

"We are one of the few exchanges that do not offer nighttrading so far. It's about time that we do align our marketpractices to our global investors in the correct manner," BMDChief Executive Officer Samuel Ho told Reuters in an interview.

The palm contract trades from 10:30 a.m. to 6 p.m. (0230 to1000 GMT) with a two-hour break starting at 12:30 p.m. The nighttrading session is set for 9:00 p.m. to 11:30 p.m. (1300 to 1530GMT).

That coincides with U.S. exchanges' opening hours as well asLondon's closing hours, Ho said.

Night trading will increase market opportunities for hedgersto effectively manage their risk exposure in volatile markets,especially as commodity price risk exposure is highly impactedby global developments in different time zones, he said.

The Chicago Board of Trade, which runs the benchmark soybeanoil contract, has an Asian trading session while China'sDalian agriculture futures has night trading sessions forseveral products, including its soybean oil and palmoil contracts.

Global vegetable oil traders are awaiting the launch andsaid it would offer a better price discovery mechanism.

"Keeping the Bursa Malaysia benchmark palm oil contract openduring the U.S. day trading session is helpful for pricediscovery and risk management," said Sandeep Bajoria, chiefexecutive at India's leading vegetable oil broker Sunvin Groupin Mumbai.

However, early day trading could suffer, one Singapore-basedpalm oil trader said.

"People will definitely trade the night session as BMD CPOis a very liquid market...but we might see lower volumes thenext morning as some market participants would have covered atnight."

Paramalingam Supramaniam, director at Malaysia-basedbrokerage Pelindung Bestari said, "with the night trading we canbe more than an observer and hedge our risks." REUTERS



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