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Paris - Euronext has agreed to license its Paris-based wheat futures contract to the Johannesburg Stock Exchange (JSE), the European exchange said on Monday, as it tries to expand its flagship commodity product overseas.
Euronext has made derivatives including agricultural futures a priority after its spin-off last year from Intercontinental Exchange, and is facing a challenge from Chicago-based CME Group, which is planning to enter the European wheat market.
JSE will list Euronext's milling wheat contract as a first step in a reciprocal licensing agreement that allows for each exchange to use the other's commodity products and settlement prices, Euronext said in a statement.
