Japanese partnerships targeted for new Asian exchange
Chicago Board of Trade (CBoT) and Singapore Exchange (SGX)
have signed a 50/50 joint venture agreement to create a new
Asia-focused commodities exchange.
The new exchange, known as the Joint Asian Derivatives
Exchange (JADE), was expected to launch in the third quarter of
2006. Under the plan, contracts will be hosted on CBoT's E-CBoT
electronic trading platform in Chicago and trades will be
cleared by SGX's derivatives clearinghouse.
Bob Ray, CBoT's senior vice president of business
development, told FO Week that the new market has been
designed to offer Asia-focused contracts on raw materials that
many institutions have been trading OTC because of a variety of
risks they present to users.
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