Washington, DC , April 13, 2020
Nodal Exchange announced today that it successfully migrated natural gas futures and options contracts open interest from Nasdaq Futures, Inc. (NFX) to Nodal Clear, Nodal Exchange’s clearing house, pursuant to the agreement announced in November 2019 whereby Nodal purchased core assets of NFX’s futures and options exchange business. 818,737,500 million British Thermal Units (MMBtu) were migrated this morning to Nodal Exchange. This is the energy equivalent of 240 million MWh and represented about 94,000 lots. Nodal Exchange previously migrated 91 million MWh of power futures and options on February 6, 2020 which represented all of the NFX North American power open interest (except for current month expiries by design).
“These are challenging times with the current pandemic, and I very much appreciate the cooperation and support from our customers in accomplishing this migration,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “We are excited about growing our natural gas market which is an effective complement to our power market given the cross-margining benefits and the interrelatedness of these markets.”
Nodal Exchange has a 48% market share of U.S. power futures open interest with over 930 million MWh of open interest.
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
Phone : 703-962-9816