Washington, DC, July 15, 2015
Nodal Exchange, LLC announced today that Wells Fargo Securities, LLC, 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.
“Wells Fargo Securities is pleased to become a clearing member supporting Nodal Exchange as it is an important step in the growth of our clearing capabilities across exchanges,” states George Simonetti, managing director and head of Markets Clearing and Futures Execution, Wells Fargo Securities. “Additionally, it is important for us to offer clients access to Nodal’s product suite so we can better meet their risk management needs.”
“We are very happy to be able to add Wells Fargo as a clearing member supporting customer business on Nodal Exchange,” said Ann Sacra, President and Chief Operating Officer of Nodal Exchange. “Since launch, Nodal Exchange has seen significant growth and this is reflected in our growing community of clearing members and participants. We are very pleased that the introduction of Wells Fargo as a clearing member will allow its customers the opportunity to take advantage of the many benefits of Nodal Exchange.”
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.