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Nodal Exchange LLC and CQG announced today that Nodal Exchange has contracted with CQG to supply the exchange’s trading participants with CQG’s trading solutions.
Nodal Exchange is a derivatives exchange and has become a significant part of the North American power market with approximately 30% market share of power futures open interest. As part of EEX Group, Nodal Exchange will be expanding its products beyond electric power and natural gas in the coming months to include environmental and trucking freight contracts. CQG is a leading global provider of high-performance trading, market data, and technical analysis tools.
Nodal Exchange will be implementing the Deutsche Börse Group’s world class T7 trading system later this year. CQG will connect to Nodal Exchange to offer participants direct market access to Nodal Exchange’s markets trading on the T7 matching engine. With this agreement, all Nodal traders will have access to CQG Desktop and Mobile at no charge.
“Nodal Exchange is continuously striving to best meet the growing and evolving needs of the markets we serve. In this vein, Nodal Exchange is making significant trading technology enhancements in 2018 by implementing the T7 matching engine and enabling participants to connect via CQG at no charge,“ said Paul Cusenza, Chairman and CEO of Nodal Exchange. “We are very happy to be collaborating with CQG to offer our participants best-in-class technology solutions and trading products.”
“We’re pleased to partner with Nodal Exchange to provide our cutting-edge trading products direct to its customers. CQG has been a leading provider in the energy markets for decades, with a recent expansion into the power and environmental sector; making our technical analysis tools the best option for Nodal’s customers.“ said Ryan Moroney, President, CQG EMEA and the Americas.
