Euronext announces partnership with Africa’s leading agricultural commodity exchange

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Extension of flagship milling wheat contract to Johannesburg Stock Exchange

Paris and Johannesburg - 16 February 2015– Euronext today announces that it has signed a license agreement with the Johannesburg Stock Exchange (“JSE”) providing the JSE with the right to list the flagship Milling Wheat contract currently traded on Euronext.  The aim of the agreement is to extend access to the global benchmark Milling Wheat contract by broadening its international exposure to a wider audience. 

In this context, through partnering with the largest exchange in the region, the agreement also extends Euronext’s reach into Africa, which according to International Monetary Fund forecasts, will be the world’s second fastest-growing region next year, expanding 5.75 per cent.

The license agreement signed between the two exchanges is reciprocal, enabling each exchange the right to use the settlement prices and brands for the other’s commodities contracts.  JSE will initially list the Euronext Milling Wheat contract, and this agreement can be extended to include its contracts for Rapeseed and Corn. 

Nicholas Kennedy, Head of Commodities Business Development at Euronext, said, “Euronext is delighted to be able to offer its global benchmark wheat contract to the Johannesburg Stock Exchange under its own branding.  This agreement fits within our larger strategy of broadening our reach in a selective manner with targeted partners.  In this particular case, it further strengthens our high quality franchise through greater visibility while providing JSE with the opportunity to offer a broader range of products to its clients looking to hedge their volatility in the wheat agricultural area.

Chris Sturgess, Director of Commodities & Key Client Management at the JSE, said, “The JSE is pleased to make available to its clients Euronext’s benchmark Milling Wheat contract. This will give local market participants easy access to the European wheat market, adding a wider choice of trading opportunities where participants already access South African and North American wheat markets.  The South African exchange looks forward to the growth of the strategic relationship with Euronext through which we are jointly able to offer a wider range of products across our client base.

 

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About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With close to 2,000 listed issuers and around €5.8 trillion in market capitalisation as of end June 2022, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
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