News Release

JADE Announces the Launch of Crude Palm Oil Futures on 6 June 2007

Thu May 03 2007

JADE ANNOUNCES THE LAUNCH OF CRUDE PALM OIL FUTURES ON 6 JUNE 2007  

Chicago, IL, Singapore, 3 May 2007 – The Joint Asian Derivatives Exchange (JADE) announced today plans to launch its Crude Palm Oil (“CPO”) futures contract on 6 June 2007.

The JADE CPO futures contract is denominated in US dollars and will be settled with physical delivery at the ports of Belawan and Dumai, Indonesia. The contract will trade from 10.30 a.m. to 6 p.m. (Singapore time), followed by a special one hour session from 9.30 am to 10.30 a.m (Chicago time).   It will be traded exclusively on the global e-cbot® platform and will be cleared by the SGX-DC (Derivatives Clearing).

Benjamin Foo, CEO of JADE, said, “This contract is a result of market feedback and research involving global participants in the physical crude palm oil market.  Its design will meet the growing international demand for risk management tools for crude palm oil from producers, processors and the emerging bio-fuel industry.”

This is the first time that a CPO futures contract will be listed for trading during the US trading day, enabling more hedgers and traders to trade the contract. It will provide a fair and transparent platform for price discovery in CPO and allow commercial hedgers to trade JADE CPO futures and CBOT Soybean Oil futures concurrently to manage their edible oils price risk.  

For more details on the JADE CPO futures contract specifications, please visit: www.jadeexchange.com.

For more information, please contact:

 

CBOT®
Maria Gemskie
Communications
Tel: + 1 (312) 341 3257
Email: mgemskie@cbot.com

Debbie Baratz
Communications      
Tel : +1 (312) 435 3625
Email: dbaratz1@cbot.com

 

SGX
Kelly Long
Corporate Communications
Tel: +65 6236 8360
Email: kellylong@sgx.com

Joan Lew
Corporate Communications
Tel: +65 6236 8658
Email: joan@sgx.com

 

About the Joint Asian Derivatives Exchange (JADE)

The Joint Asian Derivatives Exchange (JADE) is a Singapore-based, electronic commodity derivatives market developed by Joint Asian Derivatives Pte. Ltd., a joint venture of CBOT Holdings, Inc. and the Singapore Exchange. JADE commenced operations on 25 September 2006. JADE leverages 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®. 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). JADE is operated by SGX-DT under its existing license granted by the Monetary Authority of Singapore (MAS).

Corporate Communications

+1 312 930 3434
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