Positive market participation for JSE listed Euronext Milling Wheat futures contract
JOHANNESBURG, 16 July 2015 – The JSE listed Euronext Milling Wheat futures contract is showing encouraging levels of market interest, following its official start of trade on 8 July.
Thus far, the JSE has traded just over 10 000 tons of wheat. Trading value recorded is close to R24 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 says: “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.”
The Johannesburg Stock Exchange is based in South Africa where it has operated as a market place for the trading of financial products for 125 years. It connects buyers and sellers in equity, derivative and debt markets. The JSE is one of the top 20 exchanges in the world in terms of market capitalisation and is a member of the World Federation of Exchanges (WFE) and Association of Futures Markets (AFM). The JSE offers a fully electronic, efficient, secure market with world class regulation, trading and clearing systems, settlement assurance and risk management. www.jse.co.za
H+K Strategies South Africa
Tel: +27 11 463 2198
On behalf of:
Director: Commodities & Key Client Management
Tel: + 27 11 520 7299