Joint Asian Derivatives Exchange (JADE), a joint venture between Singapore Exchange (SGX) and Chicago Board of Trade (CBoT), was last week set to commence operations on 25 September with a rubber futures contract after initial plans to launch with crude palm oil (CPO) were scuppered by Malaysian authorities.
The rubber futures contract was to be traded on CBoT's electronic platform, which is powered by Liffe Connect, and cleared by SGX's clearinghouse. CPO looked likely to follow in the fourth quarter of this year, and would be established on the exchange's own physical delivery, in all likelihood in Indonesia.
JADE expected to add two or three electronic market markers for the rubber contract in August and although trading hours had not...