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The U.S.-based Nasdaq Futures, Inc. (NFX), an energy derivatives trading platform, has launched today, according to Nasdaq.
The platform will start off by offering futures and options on oil, natural gas and U.S. power benchmarks, with a fee holiday for the first nine months of trading, officials say. All products will be cleared though the Options Clearing Corp. (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.”
As a designated contract market, NFX will be powered by Genium INET technology, which features a central limit order book (CLOB), real-time trade reporting functionality and pre-trade risk management capabilities, officials say. The system will also allow for “neutral access though proprietary order management systems, broker platforms and software vendors,” according to a Nasdaq statement.
“We want to meet demand where the competition is lacking and deliver more value to customers at a significantly lower cost,” says Magnus Haglind, vice president and head of U.S. Commodities, Nasdaq, in a statement. “Competition in the futures market is long overdue, and NFX’s innovative clearing solution will allow us to pass operating efficiencies to our customers.”
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- Nasdaq,
- OCC,
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