The Chicago Mercantile Exchange Group and the Osaka Securities Exchange have announced a deal to jointly develop and market futures contracts in a move that will further expand the CME Group's global franchise at a time of increasing competition and consolidation in the global exchange sector.

The CME Group will offer trading in a new range of futures contracts based on the Nikkei 225 Average index, and the OSE will offer trading in futures contracts based on the CME Group's Dow Jones Industrial Average which it bought from News International last year. Both product sets will be denominated in Japanese yen.