Home / CME gives up on JADE with SGX sell-up
CME gives up on JADE with SGX sell-up
CME Group has abandoned the Joint Asian Derivatives Exchange
(JADE) project, selling its 50% stake in the venture to
co-owner Singapore Exchange (SGX) for just S$1.14m
CME Group inherited the stake when it acquired Chicago Board
of Trade (CBoT) earlier this year, but as early as October 2006
long before the takeover was completed doubts
were being raised about the new owners commitment to the
A transfer of ownership was hinted at in September when SGX
announced that JADEs contracts would be transferred to
its own QUEST trading system in January 2008, having previously
traded on E-CBoT and been cleared by SGX. The transfer will
remove any operational utilisation of CME Group systems, and
the equity purchase...
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