Positive Start for Euronext Milling Wheat Futures Listed on JSE


Paris and Johannesburg - 16 July 2015 – Euronext today announced that the Euronext Milling Wheat futures contract listed on the Johannesburg Stock Exchange (JSE) is showing encouraging levels of market interest, following its official start of trade on 8 July. To date, the JSE has traded just over 10 000 tons of wheat.  Trading value recorded is close to SA Rand 24 million. Open interest is at 204 contracts, indicating a healthy start for the contract.  Open interest records the number of contracts for particular futures that are outstanding.

As part of a mutual license agreement finalised in February 2015, the JSE indicated it would offer market participants a cash-settled and rand-denominated version of Euronext’s Wheat Milling Contract. The contract size is 50 metric tons and contract months are March, May, September and December.

JSE Commodities Director, Chris Sturgess said, “Trade in the contract is off to a favourable start.  Listing the Euronext flagship Milling Wheat futures contract reinforces our strategic intention to provide market participants in South Africa, and key markets on the continent, with access to global commodity products.

Nicholas Kennedy, Head of Commodities Business Development at Euronext, said, “Euronext launched this initiative with the JSE as part of our larger strategy of broadening our reach in a selective manner with targeted partners. We are delighted to see such rapid uptake in our global benchmark Milling Wheat contract, giving it greater visibility in a growing market.” 

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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 more than 1,900 listed issuers and around €6.5 trillion in market capitalisation as of end June 2023, 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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