Johannesburg Stock Exchange is to list rand-denominated
futures on platinum, gold and crude oil in collaboration with
The cash-settled futures will reference platinum and oil
prices from the CME’s Nymex and Comex
The move extends a licensing agreement JSE signed with CME
in January 2009. The deal involves using Chicago Board of Trade
benchmark corn futures settlement prices for a local corn
Rod Gravelet-Blondin, head of the Commodity Derivatives
Market at the JSE, said that referencing gold and platinum
settlement prices from Nymex and Comex "will bring much comfort
to investors who will be able to access the international
market via these rand-denominated contracts".
"South Africa is the world’s largest platinum
producer and third largest gold producer and so it made sense
that we needed to offer South African investors related futures
products which they could use either to gain exposure or hedge
their exposure to a listed equity stock involved in the two
commodities," Gravelet-Blondin said.
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