From the September 01, 2006 issue of Futures Magazine • Subscribe!

International news

CBOT sees Gold in JADE

The CBOT and the Singapore Exchange (SGX) are gearing up for the Sept. 25 launch of their Singapore-based venture, the Joint Asian Derivatives Exchange (JADE). The electronic platform will launch with TSR 20 Rubber, followed shortly by crude palm oil , and CBOT boss Bernie Dan says he believes the Chicago trading community will become major liquidity providers. All JADE contracts will be traded on the CBOT´s Liffe.Connect electronic platform but cleared and settled by SGX Derivatives Clearing House.

India’s MCX: Global Presence

India’s Multi Commodity Exchange (MCX) continues to build itself into a regional powerhouse, with a reported 50% equity stake in the Pan-African Commodities and Derivatives Exchange, which is set to launch next year using MCX technology, and a licensing agreement to offer mini-versions of Euronext.Liffe robusta coffee and white sugar on its platform in India.

Is Nybot shopping platforms?

In June the New York Board of Trade announced that it would list their benchmark agricultural contract electronically. This was seemingly premature given that Nybot has no electronic platform and led to speculation that its non-binding deal with the CBOT had fallen through and that Nybot might strike their own deal directly with Atos Euronext Market Solutions’ (AEMS), whose flagship product, Liffe.Connect powers the eCBOT platform.

Nybot would not comment on this but a CBOT spokesperson said, “As we announced (in January), the CBOT together with NYBOT have executed a non-binding letter of intent to host NYBOT’s financial products on the CBOT’s electronic trading platform. The CBOT is excited about this opportunity and continues to work strategically with NYBOT in helping to distribute its products to an even broader international audience.”

U.S beef welcome

Japan announced in July that they would resume beef trade with the U.S. House Agriculture Committee Chairman Bob Goodlatte (Rep. Va.) in a news release said the decision, “is a long time coming.”

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