Chicago Board of Trade (CBOT) and the Singapore Exchange (SGX) in Singapore to set up a joint venture of the Futures Exchange - Joint Asian Derivatives Exchange (JADE). CBOT's Web site shows that on the 25th of this month, JADE will be the first to launch futures contracts - Rubber futures.
CBOT's Web site shows that rubber futures are 20 varieties of plastic (TSR20). The contract will trade CBOT's electronic trading platform, by the SGX Derivatives Clearing House for settlement.
Bloomberg reports that, CBOT's CEO Bonadedan (BernardDan) said that the establishment of JADE is a copy of the CBOT to catch up with the New York Mercantile Exchange (NYMEX) gold futures trading business practices.
JADE rubber contract with the Singapore Commodity Exchange and Tokyo Commodity Exchange rubber contract similar. The Shanghai Futures Exchange rubber futures delivery standards for a domestic standard rubber (SCR5) and imports of tobacco on the 3rd film (RSS3).
In addition, JADE will also be launched at the end of the palm oil futures contracts, with Malaysia Derivatives Exchange launched the contract competition.
Bonadedan plans to electronically set to attract customers, he said that because the electronic trading system than the spot market to provide faster and cheaper services. CBOT had to use the same electronic trading system, in less than two years from the hands of NYMEX to compete for gold futures (contracts for 100 ounces) half market contract.
CBOT launched last year, alcohol and two new South American soybean futures contract, but each day of the contract volume is not more than 100. But that does not reduce the confidence of JADE, Bonadedan that, as in rubber and palm oil trading volume concentrated in the hands of small traders, therefore, rubber and palm oil market faster than the gold trade.
Bonadedan said in Singapore is a rubber face-to-face transactions, while the Tokyo market rules made outside of Japan very difficult for consumers to use their contracts.
"We have the global rubber producers and consumers had a very strong penetration." Bloomberg quoted as saying Bonadedan and at the same time, many producers of palm oil production as well as soybean and canola rapeseed oil (canolaoil), which The futures of the two species have in the CBOT electronic trading system, which in his view the introduction of the new contract is beneficial.
JADE said Bonadedan also studied 30 other contracts may be introduced in the future, but he declined to disclose specific names. The new futures and options on futures will be available on the CBOT's electronic trading system, and the market will operate in the Singapore Exchange.
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