Nodal Exchange announced today that it successfully migrated a second tranche of natural gas futures and options contracts open interest from Nasdaq Futures, Inc. (NFX) to Nodal Clear, Nodal Exchange’s clearing house, pursuant to the agreement announced in November 2019 whereby Nodal purchased core assets of NFX’s futures and options exchange business. 578,377,500 million British Thermal Units (MMBtu) were migrated yesterday morning to Nodal Exchange, following the prior migration of 818,737,500 million British Thermal Units (MMBtu) on April 13. This is the energy equivalent of a total 409 million MWh migrated in April and represented about 160,000 total natural gas lots in April. Nodal Exchange also previously migrated 91 million MWh of power futures and options on February 6, 2020 which represented all of the NFX North American power open interest (except for current month expiries by design).
“The NFX Natural Gas migration is important to Nodal Exchange as we look to grow our natural gas business,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “These are challenging times with the current pandemic, and I would very much like to thank our customers for supporting this initiative.“
Nodal Exchange has a 49% market share of U.S. power futures open interest with about 980 million MWh of open interest.
