CME Group and Johannesburg Stock Exchange to cooperate on corn futures contract

CME Group and Johannesburg Stock Exchange to Cooperate on Corn Futures Contract

The CME Group and the JSE have signed an agreement to license CME Group’s benchmark corn futures settlement prices to create a new JSE cash-settled corn futures contract. The contracts are now listed, traded and settled by the JSE’s Safex Agricultural Products Division alongside the current successful South African grain contracts.

 “JSE is delighted to enter into this agreement with CME Group, home of the widest range of commodity derivatives on any exchange in the world,” said Rod Gravelet-Blondin, JSE Senior General Manager. “

 The South African Reserve Bank granted the JSE approval to trade future and option contracts on Foreign Referenced Commodities in June 2008, subject to certain conditions.