PETALING JAYA: The second annual Nationwide Bursa Malaysia Derivatives Virtual Trading Challenge, which will commence from Nov 7 to Dec 6, 2022, aims to raise awareness and interest in the Malaysian derivatives market among millennials and undergraduates through experiential learning, while providing essential knowledge for beginners to begin trading derivative instruments in an informed manner.
Bursa Malaysia Derivatives acting director Mohd Saleem Kader Bakas said the Derivatives Virtual Trading Challenge will enable retail investors, particularly beginners, to hone their trading skills by giving them the opportunity to practise real-time trading in a virtual environment without risking their own money.
“The experience gained from the challenge will help them become more confident in making informed trading decisions, which will benefit them when they enter the actual marketplace.”
Participants will compete in a simulated environment that mirrors live futures markets via the BursaMKTPLC Derivatives Trading Simulator. Each participant will be given an account with RM100,000 virtual capital to trade in the five derivatives contracts offered by Bursa Malaysia Derivatives. They are the Crude Palm Oil Futures (FCPO), the East Malaysia Crude Palm Oil Futures (FEPO), the FBM KLCI Index Futures (FKLI), the FBM Mid 70 Index Futures (FM70), and the Gold Futures (FGLD) Contracts.
The top 30 participants with the highest account balance at the end of the challenge will receive prizes worth RM40,000. The “Individual” category winner will receive a RM7,000 cash prize, while the “University Team” winner will receive a RM5,400 cash prize and certificate.
“The exchange’s retail participation in derivatives market has increased in recent years, rising from 25% in 2019 to 38% as of September 2022. Given this growing interest, the exchange is investing in such educational and experiential learning tools to help the general public understand trading fundamentals and how to trade responsibly,” added Mohd Saleem.
The Derivatives Virtual Trading Challenge is open to eligible Malaysian citizens and students
aged 18 and above, with two entry categories; individual and university team. As of Oct 20, 2022, the exchange had received registrations from 2,749 individual participants and 77 teams. Registration is still open and will close on Oct 28, 2022.
