3.1 Under the Proposed FCPO Licensing, Bursa Malaysia Derivatives will grant CME the right to use the FCPO settlement prices and certain related trademarks, solely for the development of UCPO, UCPO options and certain derivative products based on FCPO.

3.2 As consideration, CME will pay Bursa Malaysia Derivatives a license fee determined on a per round-turn trade (“RTT”) basis, depending on the monthly average daily trading volume of the UCPO and UCPO options.

3.3 The initial term of the license is for a period of 7 years and will be automatically renewed for subsequent terms of 3 years each upon expiry, unless the agreement is terminated.

3.4 The listing of UCPO is expected to begin in the first half of 2010.

4.1 Under the Proposed CME Globex Services Arrangement, Bursa Malaysia Derivatives will be able to list all its existing and new derivative products electronically on CME Globex trading platform. Bursa Malaysia Derivatives will continue to operate and regulate its market and have control over trading hours, product specifications, spread definitions and pricing, within the parameters supported by CME Globex.

4.2 Bursa Malaysia Derivatives is expected to list all its derivatives products on CME Globex trading platform in the second half of 2010.

4.3 As consideration, Bursa Malaysia Derivatives will pay CME a basic fee determined on a per RTT basis depending on the monthly average daily trading volume of contracts on the CME Globex trading platform, subject to a minimum annual fee.

4.4 The initial term of the agreement is for a period of 10 years and will be automatically renewed for subsequent terms of 3 years each upon expiry, unless the agreement is terminated.

4.5 CME Group will build a telecommunications hub in Kuala Lumpur in order to provide local market participants with a direct, cost-effective and high-speed connection to CME Globex trading platform.

BACHOK: Size is a big problem for Malaysia’s biggest bull. He cannot find a mate that can withstand his frame, which is bigger than a mid-sized family saloon car.

Standing at 183cm and weighing 1.5 tonnes, the cream-coloured, six-year-old bull is a cross-breed between a local variety and the Charolais breed known for its large size.

“I tried to get him to mate twice. Both times, the cows died because their backs broke when he mounted them,” said owner Juharani Jafaar, a cafe operator here who calls the animal Bob and treats him as his pet.

Bob’s daily diet consists of 50kg of Indian Napier giant grass and 5kg of food pellets.


Quality time: Juharani playing with Bob at his house in Bachok Thursday. — Reuters

Juharani, who bought Bob five years ago in Thailand, said: “He only weighed 300kg then but now weighs more than a tonne. He has been banned from entering any competition because he would literally dwarf the competition.”

A spokesman from the Veterinary Department said Bob is the largest cross-breed bull the department has on record.

Apart from sex, size presents other problems for Bob. Juharani said the bull needed up to a minute to get up due to his girth, and his weight led him to suffer a stroke last year.

“I cried when he suffered a stroke, but am thankful that he eventually recovered and is now up and about.”

The bull’s playful nature earned him the name Bob, derived from children’s animated television character Bob the Builder.

“He is like a child. I’ve taught him to stop, to lift one of his legs and to shake his head,” said Juharani, who did not say if he ever intended to put Bob on a diet. — Reuters