Washington, DC , November 12, 2019
Nodal Exchange, as part of EEX Group, and Nasdaq Futures, Inc. (NFX) have reached an agreement to sell NFX’s futures and options exchange business to Nodal. Nodal will acquire the core assets of NFX, including the portfolio of NFX contracts. The transaction involves the transfer of existing open positions in U.S. Power, U.S. Natural Gas, Crude Oil and Ferrous Metals futures and options contracts to Nodal Clear.
This agreement represents a significant development for Nodal Exchange as it continues to expand its presence in the North American energy markets and deliver additional value to customers. The transfer of the NFX power and gas positions will further strengthen Nodal in those markets, while crude oil and ferrous metals would be new contracts for Nodal.
Nodal Exchange continues to grow rapidly with third quarter 2019 volumes growing 94% over third quarter 2018. In October, Nodal achieved its 15th consecutive month of record calendar month trading volume in power futures.
“This is an important milestone for Nodal Exchange as we continue to grow our position in the U.S. commodity markets, and we look forward to working with Nasdaq, clearing members, and participants to seamlessly integrate these positions into Nodal and to effectively serve these markets moving forward,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “Nodal Clear offers an award-winning portfolio margining methodology which will lead to significant capital efficiency for many customers when they transfer their energy portfolios.”
Nodal Exchange and Nodal Clear plan to complete the integration of U.S. Power contracts by December 2019. U.S. Natural Gas, Crude Oil and Ferrous Metals contracts could transfer to Nodal as soon as spring 2020.
Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American commodities markets. Nodal Exchange is a leader in innovation, having introduced the world’s largest set of electric power locational (nodal) futures contracts. As part of EEX Group, a group of companies serving international commodity markets, Nodal Exchange currently offers over 1,000 contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. In addition, Nodal Exchange offers natural gas, environmental and trucking freight contracts. All Nodal Exchange contracts are cleared by Nodal Clear which is a CFTC registered derivatives clearing organization. Nodal Exchange is a designated contract market regulated by the CFTC.
Nodal Exchange Public Relations
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