KUALA LUMPUR: Bursa Malaysia has confirmed its plan to introduce a new futures contract for used cooking oil, pending industry consultation and regulatory approval.
"Bursa Malaysia is looking to offer a new futures contract for used cooking oil, which is currently undergoing industry consultation and is subject to regulatory approval,” said a Bursa Malaysia spokesperson in a short reply to a query from Bernama.
The exchange's statement follows a foreign news report suggesting that it is considering launching a futures contract for used cooking oil, driven by increasing demand for biofuel feedstock.
The news report, citing sources familiar with the matter, also indicated that Bursa Malaysia has proposed specifications for the contract in a document shared with industry participants. - Bernama
