Joint Asian Derivatives Exchange (JADE), a joint venture between Singapore Exchange (SGX) and the Chicago Board of Trade (CBOT), is pleased to announce that the Exchange will launch operations on September 25, 2006 and begin trading its first futures contract, TSR 20 Rubber, on the same day. This contract will be traded on the CBOT electronic platform and cleared by SGX Derivatives Clearing House.
Following TSR 20 Rubber, JADE aims to launch its second futures contract, crude palm oil (CPO) by fourth quarter of 2006. JADE has been working closely with market participants who have voiced a strong preference for a US dollar-denominated, physically-delivered CPO futures contract. Said Mr Chong Kim Seng, Managing Director of JADE, "We are very excited to launch the first two JADE futures contracts, TSR 20 Rubber and CPO, before the end of this year. Commodities have increasingly become a key growth area for Asia. JADE will continue to develop commodity contracts to meet market demands, and to provide global market participants convenient and cost-effective access to Asian-based commodities. We believe that the active trading and easy access to JADE products will also facilitate price discovery and risk management in Asia."
