Nasdaq Expands Global Commodities Initiative With Energy Derivatives
(Thomson Reuters ONE) -
Founding Market Participants Endorse Competitive Pricing and Innovative Clearing
Solution
BOCA RATON, Fla., March 11, 2015 (GLOBE NEWSWIRE) -- Nasdaq announced the
establishment of a new energy futures market with the support of leading
commodities participants. Nasdaq Futures (NFX) will offer competitive pricing,
an innovative clearing solution and high-performance technology for futures and
options based on key energy benchmarks including oil, natural gas and US power,
which will launch mid-2015 pending regulatory approval.
Nasdaq has secured support from prominent trading firms, inter-dealer brokers,
and futures commission merchants (FCMs) to facilitate broad product distribution
and early liquidity. Founding market participants include ABN AMRO Group,
Advantage Futures, Goldman Sachs, JP Morgan, Morgan Stanley(1) and Virtu
Financial.
"Our strategy is always to meet demand where competition is lacking, and our
global benchmark product suite will provide commodity market participants across
the planet with a new solution to meet their trading and hedging needs," said
Hans-Ole Jochumsen, President of Nasdaq. "We will leverage our market expertise
and the client relationships we've established through our global commodities
business, which already includes the world's most liquid electricity market and
the leading market for freight derivatives, as well as trading in German, Dutch
and UK energy derivatives."
Nasdaq will offer cash-settled energy derivatives with a transparent fee
structure. As the products will be cleared through The Options Clearing
Corporation (OCC), market participants will also benefit from OCC's more than
40 years' experience in derivatives clearing and its industry utility clearing
model that passes on operating efficiencies in the form of reduced costs.
"OCC has a proud history of clearing a wide variety of derivatives products for
NASDAQ," said Michael McClain, President and Chief Operating Officer of OCC. "We
look forward to expanding the use of our world-class operational and risk
management infrastructure to clear energy derivatives for NFX."
NFX, the exchange group's US-based designated contract market (DCM), will
leverage the exchange group's transformative Genium INET technology, and the
platform will be domiciled in Chicago. The platform provides open and neutral
access, and firms will be able to access the market through proprietary order
management systems, broker platforms, and leading independent software vendors.
Nasdaq's Global Commodities business offers trading and clearing solutions for
various related 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 market makers, liquidity
providers and competitive fees, Nasdaq provides a liquid, transparent and
efficient marketplace which appeals to all types of trading entities.
1 Morgan Stanley Capital Group Inc.
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 3,500
listed companies with a market value of over $9.1 trillion and more than 10,000
corporate clients. To learn more, visit http://nasdaq.com/ambition or
http://business.nasdaq.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made
under the Safe Harbor provisions of the Private Securities Litigation Reform Act
of 1995. These statements include, but are not limited to, statements about
Nasdaq and its products and offerings. We caution that these statements are not
guarantees of future performance. Actual results may differ materially from
those expressed or implied in the forward-looking statements. Forward-looking
statements involve a number of risks, uncertainties or other factors beyond
Nasdaq's control. These factors include, but are not limited to factors detailed
in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S.
Securities and Exchange Commission. We undertake no obligation to release any
revisions to any forward-looking statements.
NDAQG
CONTACT: Nasdaq Media Contact:
Robert Madden
+1 (347) 740-0191 (mobile)
Robert.Madden(at)Nasdaq.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: The NASDAQ OMX Group, Inc. via GlobeNewswire
[HUG#1902066]
Unternehmensinformation / Kurzprofil:
Datum: 11.03.2015 - 14:30 Uhr
Sprache: Deutsch
News-ID 377785
Anzahl Zeichen: 5901
contact information:
Town:
New York
Kategorie:
Business News
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"Nasdaq Expands Global Commodities Initiative With Energy Derivatives"
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