As we prepped for this end-of-year interview we happened across an old interview and release from 10 years ago. Nodal Exchange had opened for business in April 2009. At that time, it offered just a smattering of forward power contracts (no CFTC DCM designation yet), cleared by LCH. And today?
2019 proved to be a fairly tepid year for the upstart exchange and NASDAQ CEO Adena Friedman unceremoniously pulled the plug. The interesting part of the story is yet to come though. The EEX group, owner of US based Nodal Exchange and Nodal Clear, will take possession of all NFX contract assets in very short order.
Please find below the shortlists for the FOW International Awards 2019. Nodal Clear is shortlisted for Clearing House of the Year: Americas.
The winners will be announced on December 10 at the annual FOW International Awards dinner.
A financial derivative is an instrument that derives its value from the behavior of an underlying asset. Freight derivatives are financial instruments whose value is derived from the behavior of freight rates. With the exception of a few proprietary operations, the trucking industry has not made widespread use of financial derivatives in the past. That is changing.
Yesterday, August 7, shortly before the Trucking Freight Futures market on the Nodal Exchange closed, a series of three trades were executed on the Los Angeles to Seattle lane (FWD.VLS). Fifteen contracts in total changed hands, with five each settling in October, November and December (FUT.VLS201910, FUT.VLS201911, FUT VLS201912).
This morning, July 30, two separate trades of Trucking Freight Futures contracts were executed on the Nodal Exchange. A total of 50 Los Angeles to Dallas contracts changed hands, 25 for the month of October (FUT.VLD201910) and 25 for the month of November (FUT.VLD201911).
For many power traders and energy marketplaces, Q2 closed with a whimper and not a bang – with one exception. DC-based Nodal Exchange saw year-on-year growth rates in power futures that seemed to buck the trends, particularly in June.
Lakefront Futures & Options, a Chicago-based brokerage and trading firm with 16 regional offices, recently launched a Trucking & Freight Derivatives Group to help its clients use trucking freight futures and other risk management tools, including fuel hedging, spot market pricing, and contract or ‘forward’ rates.
Despite unusual weather leading to volatility in power prices, trading volumes at most major exchanges remained flat. The exception was Nodal Exchange. The Virginia based firm saw a 60% jump in volumes in 2018 to hit a record of 1.039 billion megawatt hours (MWh) of power futures traded.
On Monday afternoon at Transparency19, Addison Armstrong, executive director of trucking freight futures at FreightWaves, moderated a conversation between Nodal Exchange, where freight futures are traded, DAT, whose rate indexes the futures contracts are settled against, and K-Ratio, a commodities trading advisor based in Chicago advising carriers and shippers on hedging strategies.
WHEN RANDOLPH AND Mortimer Duke first explained the commodities market to Billy Ray Valentine in 1983, they laid out five examples: a cup of coffee, a piece of bread, some slices of bacon, a glass of frozen orange juice, and a few bars of gold...Had Eddie Murphy, Ralph Bellamy, and Don Ameche been filming that seminal scene of Trading Places today, they could have used another example, albeit one harder to fit on a breakfast table: truck routes.
FreightWaves, in partnership with Nodal Exchange and DAT, launched the world’s first financially settled Trucking Freight Futures contracts at 9 a.m. Friday, March 29. The first trade came through within 20 minutes of opening, at 9:18 a.m.
On Friday morning at FreightWaves’ Market Street headquarters in Chattanooga, executives from DAT, Nodal Exchange, J.B. Hunt (NASDAQ: JBHT), as well as former U.S. Senator Bob Corker (R-TN), spoke to a large audience about the problems in the transportation and logistics industry that led to the creation of trucking freight futures.
On Thursday night, FreightWaves hosted a gathering of the transportation, logistics, and financial industries at its new headquarters ahead of the launch of the Trucking Freight Futures contracts on the Nodal Exchange Friday morning. Executives from local and national firms celebrated the arrival of freight futures a cocktail reception and dinner.
March 29th marks the launch of Nodal Exchange’s trucking freight futures. In this video, Nodal Exchange CEO Paul Cusenza talks about how trucking freight fits in with the rest of Nodal’s offerings and the potential for the exchange to address the financial transmission rights market.
The first futures tied to the cost of trucking goods across the U.S. are set to launch on Friday, testing whether an old-school industry will embrace a new financial tool designed to protect cargo haulers and shippers against swings in freight rates.
On Wednesday afternoon, at the Andaz Hotel on Wall Street in New York City, executives from FreightWaves, Nodal Exchange, DAT, and K-Ratio pitched Trucking Freight Futures to a diverse audience of investment bankers, equity analysts, hedge funders and techies.
This week FreightWaves is launching a series of Freight Futures Road Shows in major financial and freight centers across the country, beginning with New York City today and Chicago on Thursday. With its partners DAT and Nodal Exchange, and event co-sponsors K-Ratio, Benzinga and TriumphPay, FreightWaves is explaining Trucking Freight Futures to potential exchange participants as well as making the case for why de-risking trucking spot rate volatility is so important.