4/5/07 ( Hulic.com) - JADE Announces the Launch of Crude Palm Oil Futures on 6 June 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. -http://www.cbot.com
ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB )
Lot 6, SS6, Jalan Perbandaran,
47301 Kelana Jaya,
Selangor Darul Ehsan,
Tel : 603 - 7802 2800 || Fax : 603 - 7803 3533