WASHINGTON DC, February 4, 2015
Nodal Exchange, LLC announced today that BofA Merrill Lynch, through its LCH.Clearnet Ltd membership, is now offering clients Clearing Member services for Nodal Exchange.
Since Nodal Exchange’s launch in April 2009, it has become a significant part of the North American power market, providing the most granular and diverse set of locations for trading of cleared power contracts in North America.
“We are pleased to be able to provide clearing services on Nodal Exchange to our clients,” said Todd D’Agosta, Head of Americas Marketing for Futures & Options and OTC Clearing at BofA Merrill Lynch. “Our clients have a growing interest in Nodal Exchange products to help them meet their risk management needs, and we are now able to support their trading on this Exchange.”
“We are very happy to be able to add BofA Merrill Lynch to the group of clearing members supporting customer business on Nodal Exchange,” said Ann Sacra, President and Chief Operating Officer of Nodal Exchange. “Nodal Exchange has expanded cleared power trading from just hubs to a broad array of power basis locations. We are very pleased that BofA Merrill Lynch will now offer its customers the ability to take advantage of our Exchange’s robust product offerings.”
About Nodal Exchange, LLC
Nodal Exchange is the first commodities exchange dedicated to offering locational (nodal) futures contracts and related services to participants in the organized North American electric power markets. Nodal Exchange offers contracts for both power and natural gas. Nodal Exchange builds on the success of the existing Regional Transmission Organization/Independent System Operator (RTO/ISO) Day Ahead and Real Time markets by offering cash-settled futures contracts in a cleared market enabling Nodal Exchange participants to effectively manage basis and credit risk. Nodal Exchange offers over 1,000 contracts on hundreds of unique locations in the RTO/ISO markets. Nodal Exchange is a designated contract market regulated by the CFTC with all contracts cleared by LCH.Clearnet Ltd. Nodal Exchange is an independent, privately held company. For more information, visit nodalexchange.com.