CFTC Approves Nodal Clear, LLC to Clear For Other Designated Contract Markets

Nodal Clear announced today that the Commodity Futures Trading Commission (CFTC) has approved an Amended Order of Registration for Nodal Clear, LLC, removing a previous requirement limiting its activities as a registered derivatives clearing organization (DCO) to clearing contracts executed on or through its affiliated designated contract market (DCM), Nodal Exchange, LLC.

The amended order permits Nodal Clear to clear for other DCMs in addition to Nodal Exchange.

Nodal Clear, a limited liability company based in Virginia, was first registered as a DCO on September 24, 2015. In that capacity, it is permitted to clear futures and options on futures.

"Nodal wanted to broaden its authorization so that we are able to clear for DCMs other than Nodal Exchange,” said Paul Cusenza, Chairman and CEO of Nodal Clear. “Over time, Nodal plans to broaden the commodities it serves and in some cases clearing for other DCMs may be appropriate in achieving that mission."