Joint Asian Derivatives Exchange (JADE) has finally received
regulatory approval to launch its crude palm oil futures
contract last week, a move that exchange officials hoped would
lure existing soybean oil and canola oil traders into the
JADE planned to launch the contract during the first quarter
but an exact date had yet to be announced.
Singapore's regulator approved the contract during the
Christmas period as the exchange continued to seek a no action
letter from Commodity Futures Trading Commission to offer the
contract in the US. The approval was welcome news for JADE's
owners - Chicago Board of Trade (CBoT) and Singapore Exchange,
which had hoped to launch the contract in the Q4 2006.
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