JADE to begin TSR20 trades on 25 Sept.

Singapore - The Joint Asian Derivatives Exchange (JADE) will begin a two-month trial period of trading on 24 July, with live trading of TSR-20 futures contracts beginning on 25 Sept. The new exchange will formally open to traders on 25 Sept.

JADE is, a joint venture between Singapore Exchange (SGX) and the Chicago Board of Trade (CBOT). The TSR20 contracts will be traded on the CBOT electronic platform and cleared by SGX Derivatives Clearing House. JADE said the TSR contract would be followed by crude palm oil (CPO) before the end of 2006.

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."

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Press release from Singapore Exchange

Technical details from CBOT