KL futures exchanges to merge

KL futures exchanges to merge

KUALA LUMPUR (Reuters): Malaysia's two remaining futures exchanges will sign a deal to merge by the end of this year, the head of the Kuala Lumpur Options and Financial Futures Exchange (KLOFFE) said on Monday.

"I can't tell the exact date but definitely within this year," KLOFFE executive chairman Ramli Ibrahim told reporters.

"Only the MoU has been signed so we will sign the agreement before the end of this year," he added.

Ramli also said that a new name for the merged entity is on the cards to reflect the combined products traded. COMMEX was formed in 1998 by a merger between the country's monetary and commodities exchange.