JADE to Go 'Live' on September 25
July 14 2006 - 8:10AM
PR Newswire (US)
Exchange to Launch Rubber Contract First Followed by Crude Palm Oil
Futures Contract CHICAGO, and SINGAPORE, July 14 /PRNewswire/ --
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 demand, 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."
Notes About the Joint Asian Derivatives Exchange (JADE) The Joint
Asian Derivatives Exchange (JADE) is a Singapore-based, electronic
commodities derivatives market under development by Joint Asian
Derivatives Pte. Ltd., a joint venture of CBOT Holdings, Inc. and
the Singapore Exchange. JADE is expected to commence operations by
2006 and leverage the CBOT's infrastructure, connectivity and
global market participants and SGX's position as a leading Asian
derivatives exchange. The joint venture company will develop
commodity contracts to be traded on JADE. The new products will be
hosted on the CBOT electronic trading platform, powered by
LIFFECONNECT(R). All trades will be cleared by the SGX Derivatives
Clearing House. As a result of the CBOT's recent extension of their
telecommunications network into Singapore, the new market will
leverage the infrastructure and connectivity of the CBOT's global
market participants in addition to those connected to Singapore
Exchange Derivatives Trading Limited (SGX-DT). In the initial
phase, JADE will be operated by SGX-DT under its existing license
granted by the Monetary Authority of Singapore (MAS). For more
information of JADE, please visit http://www.jadeexchange.com/
Forward Looking Statement In this release, our use of the words
"may," "will," "should," "could," "expects," "plans,"
"anticipates," believes," "estimates," "predicts," "potential," or
"continue" or other comparable terminology is intended to identify
forward-looking statements. These statements are not guarantees of
future performance and involve risks, uncertainties and assumptions
that are difficult to predict. Therefore, actual outcomes and
results may differ materially from what is expressed or implied in
any forward-looking statements. More detailed information about
factors that may affect our performance may be found in filings
made by CBOT Holdings, Inc. with the U.S. Securities and Exchange
Commission, which can be obtained at its web site at
http://www.sec.gov/. We undertake no obligation to publicly update
any forward- looking statements, whether as a result of new
information, future events or otherwise. DATASOURCE: Chicago Board
of Trade CONTACT: Jennifer Rook, Communications, CBOT
+1-312-435-3625, ; John Gollifer, Corporate Communications, SGX,
+65-6236-8540, ; Joan Lew, Corporate Communications, SGX,
+65-6236-8658, Web site: http://www.cbot.com/
http://www.jadeexchange.com/
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