Joint Asian Derivatives Exchange

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The Joint Asian Derivatives Exchange (Jade) was an electronic trading platform formed by a 50/50 joint venture between Singapore Exchange Limited (SGX) and the Chicago Board of Trade (CBOT), designed to list new commodities contracts. The JV was dissolved in November 2007 when SGX bought out the stake held by CME Group (following CME's acquisition of the CBOT). Jade's first two contracts - palm oil and rubber futures - were transferred to the the SGX derivatives platform.

History

The Jade was launched on September 25, 2006, by Joint Asia Derivatives Pte Ltd (JADL), the 50/50 joint venture between SGX and the CBOT, hosted on the Chicago's exchange's electronic platform and cleared by the SGX. Jade was licensed by the Monetary Authority of Singapore.

The exchange listed its first contract, a rubber future, in September 2006, with the delayed launch of crude palm oil futures following on June 6, 2007. It was the first palm oil contract to be listed during the US trading day. The physically settled contract was designed to compete with the benchmark palm oil contract listed by Bursa Malaysia.

The SGX announced on November 9, 2007, that the JV was being discontinued, buying out its partner for S$1.13m. Jade products started trading on the SGX on November 26, 2007[1].

Benjamin Foo, the head of the SGX Clearing and Commodities Business, was appointed as CEO in January 2007[2]. Foo retains his position with the SGX.

The exchange website - www.jadeexchange.com - has been discontinued.

References

  1. Press Release. SGX.
  2. Press Release. CME.

External Links