Joint Asian Derivatives Exchange (JADE), a joint venture
between Singapore Exchange (SGX) and Chicago Board of Trade
(CBoT), was last week set to commence operations on 25
September with a rubber futures contract after initial plans to
launch with crude palm oil (CPO) were scuppered by Malaysian
The rubber futures contract was to be traded on CBoT's
electronic platform, which is powered by Liffe Connect, and
cleared by SGX's clearinghouse. CPO looked likely to follow in
the fourth quarter of this year, and would be established on
the exchange's own physical delivery, in all likelihood
JADE expected to add two or three electronic market markers
for the rubber contract in August and although trading hours
had not been announced, they were to be focused on the Asia
time zone. Exchange officials said they believed there would be
strong demand for rubber, especially since all the world's
major tyre manufacturers' trading divisions are based in
Singapore. Chris Malo, CBoT executive vice president of
business development and marketing, also believed there was
institutional interest in the contract.
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