Bursa Malaysia Derivatives Berhad unveils new Board and management line-up

Bursa Malaysia Derivatives Berhad unveils new Board and management line-up

01/12/09

Bursa Malaysia Derivatives Berhad today announces its new Board structure and members, following the completion on 30 November 2009 of the acquisition by CME Group Inc. (CME Group) of a 25% equity interest in Bursa Malaysia Derivatives Berhad from Bursa Malaysia Berhad.

Effective 30 November 2009, the Board of Bursa Malaysia Derivatives Berhad is comprised of four directors, three of whom represent Bursa Malaysia Berhad and one of whom represents CME Group. Dato' Yusli Mohamed Yusoff, Omar Merican and Nadzirah Abdul Rashid, of Bursa Malaysia, and Phupinder Gill, President of CME Group, will serve on the Board. Dato' Yusli Mohamed Yusoff, Chief Executive Officer of Bursa Malaysia Berhad, has been appointed to serve as Chairman of the Board.

Dato' Yusli Mohamed Yusoff said, "I believe we have the right team and structure in place to carry out the company's goals, not only in growing the derivatives business but also in enhancing the visibility of our star product, crude palm oil futures (FCPO). I look forward to working closely with this team to ensure that the Malaysian derivatives market sees further growth and attracts greater interest from international traders and hedge funds."

Bursa Malaysia Derivatives Berhad also announces the appointment of Chong Kim Seng as its Chief Executive Officer, effective immediately. Chong will be spearheading the expansion and development of Bursa Malaysia Derivatives Berhad's products and services offerings and its derivatives market infrastructure.

Prior to the acquisition by CME Group, a restructuring, to consolidate all of Bursa Malaysia Berhad's derivatives businesses into Bursa Malaysia Derivatives Berhad, was completed. The restructuring included the acquisition by Bursa Malaysia Derivatives Berhad of 100% equity interest in Bursa Malaysia Derivatives Clearing Berhad from Bursa Malaysia Berhad. The structure and members of Bursa Malaysia Derivatives Clearing Berhad's Board is now the same as that of the Bursa Malaysia Derivatives Berhad Board.