Joint Asian Derivatives Exchange (JADE) is pleased to confirm the key features of its first product, Technically Specified Rubber 20 Futures Contract (TSR 20 Rubber), which is targeted for launch by September 25, 2006.
JADE TSR 20 Rubber, a US dollar denominated futures contract, will soon be accessible globally via CBOT’s robust electronic trading platform. Participants of this futures contract will enjoy trade efficiency and transparency in the JADE marketplace. Customers will also benefit from the reliable and efficient clearing infrastructure of the SGX Derivatives Clearing House.
“We look forward to the launch of JADE and its TSR 20 Rubber Futures Contract for it will create more trading opportunities in this commodity for global participants, hedgers and arbitrageurs alike, “ said Mr Emmanuel Faure, Chief Executive Officer, Asia ex-Japan, Fimat Hong Kong Limited.
Mr Chong Kim Seng, Managing Director, JADE, added, “TSR 20 Rubber is the most sought-after grade of TSR exported from Asia. JADE believes that the TSR 20 Rubber Futures Contract will meet the derivatives industry’s demand for an efficient hedging instrument in Asia. We are excited that market participants can soon gain global access to Asian-based commodities electronically. New market players will find this a timely opportunity to participate in this vibrant marketplace through JADE.”
TSR 20 Rubber is also endorsed by the JADE Rubber Advisory Committee (JRAC) led by Mr Leong Tim Fook, Executive Director of RubberNet (Asia) Pte Ltd, who is also serving as the Chairman of the Committee. Comprising experienced physical and derivatives trade professionals, the Committee has been established to advise JADE on the development of its futures contracts to meet the dynamic needs of the derivatives rubber industry in Singapore and the region.
JADE TSR 20 Rubber Futures Contract Specifications
- Trading Unit: 20 Metric Tons (Delivery Unit 20.16 Metric Tons)
- Ticker Symbol: JR
- Deliverable Grades: TSR 20 (Delivery from approved factories)
- Tick Size: US Cents 0.10 per Kg (US$ 20 per Contract)
- Contract Months: 12 Consecutive Months
- Last Trading Day: Last day of trading of the month preceding the Delivery Month
- Last Delivery Day: Last calendar day of the Delivery Month
- Final Settlement Day: Last Trading Day of the month preceding the Delivery Month
- Exchange Delivery Daily Settlement Price on the Last Trading Day Settlement Price:
- Delivery Method: FOB Singapore
- Trading Hours: 9.00am to 6.00pm continuous Singapore Time
- Trading Platform: e-CBOT
- Daily Price Limit: +/- 5% from previous Trading Day settlement with a 15 minutes cooling off period to be followed with expanded limit of +/- 8% and will remain till end of Trading Day
- Position Limit: 2,500 lots net long or net short for any month or all Contract Months combined, with a maximum of 500 lots net long or net short in the Front Contract Month
B. CLEARING FEES (FOR TSR 20 RUBBER FUTURES CONTRACT)
JADE is pleased to inform Members that it plans to launch the TSR 20 Rubber Futures Contract as its first listed contract for trading. Below are the respective Clearing Fees for the 2 types of categories of trades.
| Categories | Clearing Fees |
| Member (Proprietary Trades) | US$1.00 per lot |
| Non Member & Customers | US$2.00 per lot. |
| * Note that the above Clearing Fees will apply for Exchange Futures for Physical (EFP) transactions | |
- Mr Leong Tim Fook, RubberNet (Asia) Pte Ltd, Chairman
- Mr Michael J Coleman, Aisling Analytics Pte Ltd
- Mr Derrick Tan, Primetrade Pte Ltd
- Mr Christian Tollkuehn, Tong Teik Pte Ltd
- Mr Thibault Mudes, Fimat Singapore Pte Ltd
- Mr Thahir Hussain, Man Financial (S) Pte Ltd
- Mr Tan Kah Gee, Mizuho Futures Singapore Pte Ltd
- Mr Teyu Che Chern, Phillips Futures Pte Ltd
- Mr Nicholas Forgan, JP Morgan Securities Singapore Pte Ltd
