By Madeleine Nissen

FRANKFURT--German exchange operator Deutsche Boerse AG (DB1.XE), the Shanghai Stock Exchange and the China Financial Futures Exchange are close to announcing a joint venture, a person close to the matter said Tuesday.

The joint venture, in which Shanghai Stock Exchange and China Financial Futures Exchange will hold the majority, will involve yuan-denominated trading of fewer than 10 benchmark products on Deutsche Boerse trading platforms, said the person. The joint venture will be based in Frankfurt. The official announcement could come as early as Wednesday.

It wasn't immediately clear how much each company will invest in the joint venture and how many additional revenues is expected by the joint venture partners.

In February, Deutsche Boerse Chief Financial Officer Gregor Pottmeyer had already announced a closer cooperation with the Shanghai Stock Exchange. The SSE became official distributor and licensor of Deutsche Boerse market data in mainland China in April 2014.

Cooperations and partnerships in China are important steps in Deutsche Boerse's expansion in Asia, which will help the German exchange achieve its target of annual revenue growth of 5% to 10% by 2017.

--Ulrike Dauer contributed to this story

Write to Madeleine Nissen at madeleine.nissen@wsj.com

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