GENEVA, May 15 (Reuters) - The CME Group ( CME ) and
Euronext exchanges are planning to launch joint futures
contracts on the spread between Chicago Board of Trade wheat and
Euronext milling wheat futures prices, three sources told
Reuters on Wednesday.
There will be two products, one cleared by CME and traded in
dollars, the other cleared by Euronext and traded in euros, the
sources said on the sidelines of the GrainCom conference in
Geneva.
CME and Euronext both declined to comment.
The new products will also allow traders who are not
registered on both the CBOT and Euronext markets to trade the
difference, the sources said.
The contracts are still to be agreed officially with some
details to be confirmed.
The U.S. exchange launched European wheat futures in 2016 as
a direct competitor to Euronext but closed them two years later
due to a lack of activity.
It suspended its Black Sea wheat and corn and Ukraine wheat
futures in August of last year.