Commodities Derivatives Newsletter

Spring 2018 issue 8

Welcome to the spring edition of the Euronext Commodities Newsletter.

At a very exciting time for our commodities markets, I’m delighted to be heading the Euronext Commodities team.

Our focus for the coming months will be very much on our core products, our benchmark Milling Wheat, Rapeseed and Corn contracts and how we can build these to their full potential.

We were pleased to see the weighting of Euronext Milling Wheat in the Rogers International Commodity Index (RICI®) doubled at the end of February from 1% to 2%. This reflects a global shift in wheat trading and consumption patterns and liquidity, and the increasing importance of European wheat as a benchmark.

We’re extending the physical delivery points for our Corn contract to northern Europe, with two new delivery points in the DARAG* region signed up to start deliveries later this year. These new delivery points will complement our existing physical delivery facilities on the French Atlantic coast in Bayonne, Blaye, Bordeaux, La Rochelle and Nantes. They will also support our aims to capture corn deliveries from Central and Eastern Europe. We are very excited to be introducing new arbitrage possibilities between the South-West of France and Northern Europe. Of course our brokers will play a key role in helping physical users understand the new parities and business opportunities that this will introduce for old and new users alike.

Still in the area of physical delivery, our new inventory management system is enhancing the delivery process for our commodities, by providing a secure, fully transferable and pledgeable title of commodity and funds ownership. Find out more in this issue.

Commodity volumes in 2017 were driven by the continuing traction in the New Market Participant programme, with over 150 new traders connected. The new NMP programme has been launched in 2018 with the aim of maintaining this momentum and attracting new traders.

Finally, we have a strong ambition to boost our options market in 2018 – look out for initiatives on this in the coming months.

The commodities team will be present at a number of key industry events this year, including the Agro Paris Bourse events, the International Grains Council Grains Conference in London, the annual Gafta dinner, October’s European Commodities Exchange Rouen, and many local events and exchanges.  Read on for more information on our products and services, and as always, feel free to contact our team on if you’d like to discuss them further.

Last but not least, I am delighted to welcome two new members to our commodity team, with Margot Maurier and Brian Browne who have recently joined the family.

Nicholas Kennedy
Head of Commodities, Euronext
+33 170 48 28 48

*the ports of Dunkirk in France, Amsterdam and Rotterdam in the Netherlands, and Antwerp and Ghent in Belgium

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