With booming commodity markets in Asia and the need for accessible and transparent platforms, there has been great interest in developing commodities derivatives trading in Singapore. The Joint Asian Derivatives Exchange, a joint venture between the Chicago Board of Trade (CBOT) and the Singapore Exchange, started operations earlier this week, electronically trading rubber futures contracts. The New York Mercantile Exchange also opened an office in Singapore in May.
Nybot has recently diversified from its open-outcry platform, by starting to trade its financial products on CBOT's electronic platform from January 2006. Earlier this month, Nybot agreed to merge with the Intercontinental Exchange to further extend its electronic trade offering.