NYSE Plans spinoff of wheat futures contract
2013-02-12 12:08:54
NYSE Euronext plans to spin off Europe's largest grain futures market as part of efforts to secure regulatory and political backing for its planned takeover by IntercontinentalExchange Inc.
The Paris-based Matif wheat futures market would be included alongside the four European stock markets earmarked to be spun off as part of the ICE deal, according to a spokesman for NYSE Euronext.
The contract is the world's third-largest wheat futures market by volume, and trading activity has climbed sharply in recent years as bad weather dented output in the European Union, which provides about a fifth of global wheat supplies.