Nasdaq Launches 'NFX' to Trade Energy Derivatives
July 24 2015 - 9:03AM
New Exchange Will List Key Energy
Benchmarks Including Oil, Natural Gas and US Power
NEW YORK and CHICAGO, July 24, 2015 (GLOBE
NEWSWIRE) -- Nasdaq (Nasdaq:NDAQ) announced that its US-based
Nasdaq Futures, Inc. (NFX) will officially launch today. The
platform will initially offer futures and options on oil, natural
gas and US power benchmarks, with a fee holiday for the first nine
months of trading. All products will be cleared through The Options
Clearing Corporation (OCC).
"NFX was born out of strong customer demand and a
confidence in Nasdaq's ability to deliver an innovative technology
solution," said Hans-Ole Jochumsen, President, Nasdaq. "We truly
believe that competition drives innovation, and that the energy
futures market is ready for our more transparent pricing
model."
NFX is a designated contract market, powered by
Genium INET technology, which features a transparent central limit
order book, real-time trade reporting functionality, robust
pre-trade risk management capabilities and allows for open, neutral
access through proprietary order management systems, broker
platforms and software vendors.
"We want to meet demand where the competition is
lacking and deliver more value to customers at a significantly
lower cost," said Magnus Haglind, Vice President and Head of U.S.
Commodities, Nasdaq. "Competition in the futures market is long
overdue, and NFX's innovative clearing solution will allow us to
pass operating efficiencies to our customers."
NFX is the newest platform in Nasdaq's global
derivatives business. Nasdaq will continue its strategy of working
closely with customers to develop products and platforms that meet
their needs for innovative, trading and risk management
solutions.
The new energy product suite will be an extension
of the current global commodities business, which offers trading
and clearing solutions for assets including power, natural gas and
carbon emission markets, tanker and dry cargo freight, fuel oil,
seafood derivatives, iron ore, electricity certificates and
clearing services. With competitive fees and a range of liquidity
providers, Nasdaq provides a cost-effective, transparent and
efficient marketplace that appeals to all types of trading
entities.
About Nasdaq:
Nasdaq (Nasdaq:NDAQ) is a leading provider of
trading, clearing, exchange technology, listing, information and
public company services across six continents. Through its diverse
portfolio of solutions, Nasdaq enables customers to plan, optimize
and execute their business vision with confidence, using proven
technologies that provide transparency and insight for navigating
today's global capital markets. As the creator of the world's first
electronic stock market, its technology powers more than 70
marketplaces in 50 countries, and 1 in 10 of the world's securities
transactions. Nasdaq is home to more than 3,600 listed companies
with a market value of approximately $9.6 trillion and more than
10,000 corporate clients. To learn more, visit: nasdaq.com/ambition
or business.nasdaq.com.
NDAQG
CONTACT: Nasdaq Media Contacts:
Joe
Christinat
+1 (646) 441-5121
(office)
+1 (646) 284-5920
(mobile)
Joseph.Christinat@nasdaq.com
Alexa Sugrue
+1 (212) 231-5552
(office)
+1 (646) 577-3157
(mobile)
Alexa.Sugrue@nasdaq.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: The NASDAQ OMX Group, Inc. via Globenewswire
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