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Joint Asian Derivatives Exchange (JADE) is pleased to announce that institutions and market participants in the United States (U.S.) can readily trade the JADE Crude Palm Oil (CPO) Futures Contract and use the Contract to hedge and manage their edible oil price risks from the launch on 6 June 2007.
This follows the grant by the U.S. Commodity Futures Trading Commission (CFTC) of "No-Action" relief for the JADE CPO Futures Contract to be offered and sold in the U.S. This relief will significantly strengthen the appeal and broaden the use of the CPO Contract for traders and market participants in the international marketplace.
"This approval or no-action relief from U.S. CFTC is good for our international customers who are trading crude palm oil and would need to manage their price risks on this volatile commodity," said Mr Nicholas Forgan, Managing Director of J.P. Morgan Securities Singapore Private Limited.
"As JADE offers a globally-accessible international CPO contract, we are seeing interest from international market participants in becoming Trading Members," said Mr Benjamin Foo, CEO of JADE.
The JADE Crude Palm Oil Futures Contract will be launched next week, on 6th June 2007.
For more details on JADE CPO futures contract specifications, please visit www.jadeexchange.com.
About the Joint Asian Derivatives Exchange (JADE)
The Joint Asian Derivatives Exchange (JADE) is a Singapore-based, electronic commodity derivatives market developed by Joint Asian Derivatives Pte. Ltd., a joint venture of CBOT Holdings, Inc. and the Singapore Exchange. JADE commenced operations on 25 September 2006. JADE leverages the CBOT's infrastructure, connectivity and global market participants and SGX's position as a leading Asian derivatives exchange.
The joint venture company will develop commodity contracts to be traded on JADE. The new products will be hosted on the CBOT electronic trading platform, powered by LIFFECONNECT®. All trades will be cleared by the SGX derivatives clearing house. As a result of the CBOT's recent extension of their telecommunications network into Singapore, the new market will leverage the infrastructure and connectivity of the CBOT's global market participants in addition to those connected to Singapore Exchange Derivatives Trading Limited (SGX-DT). JADE is operated by SGX-DT under its existing license granted by the Monetary Authority of Singapore (MAS).
