NFX agrees to sell its US commodity derivatives business to EEX Group

Maria Nikolova

EEX Group will acquire the core assets of Nasdaq Futures, Inc., including the portfolio of open interest in NFX contracts.

US-based Nasdaq Futures, Inc. (NFX) has agreed to sell its futures and options exchange business to EEX Group.

Under the agreement, EEX Group will acquire the core assets of NFX, including the portfolio of open interest in NFX contracts. The transaction involves the transfer of existing open positions in U.S. Power, U.S. Natural Gas, Crude Oil, Ferrous Metals and Dry Bulk Freight futures and options contracts to EEX Group’s clearing houses Nodal Clear and European Commodity Clearing (ECC).

The parties will now commence the necessary technical preparations to facilitate the open interest transfer to ensure that position holders experience a seamless transition. Both EEX Group and NFX are committed to ensuring that all NFX clients continue to receive excellent customer service during and following the transfer period.

Nodal and Nodal Clear plan to complete the integration of U.S. Power contracts by December 2019. EEX and ECC aim to complete the transfer of all open positions in Dry Bulk Freight by February 2020. U.S. Natural Gas, Crude Oil and Ferrous Metals contracts will transfer to Nodal in spring 2020.

Speaking on the announcement, Peter Reitz, EEX CEO comments: “This is a landmark deal for EEX Group as we continue to follow our global expansion strategy and one which will bring significant benefits for our client base worldwide by creating an even larger liquidity network and offering higher capital efficiencies.”

Kevin Kennedy, Senior Vice President of North American Market Services at Nasdaq adds: “Nasdaq entered the U.S. futures marketplace in response to clients who wanted to develop new ways to innovate around energy and freight trading. After evaluating the steady progress we made to expand our client base and grow open interest, the next step forward is for EEX and Nodal to continue this mission.”

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