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Nodal Clear, LLC, the new clearing house subsidiary of Nodal Exchange, announced today that the Board has approved twelve clearing members of Nodal Clear for the Nodal Exchange market. Eleven of the twelve approved clearing members are futures commission merchant (FCM) clearing members able to clear for customer accounts.
The following institutions are approved clearing members of Nodal Clear for the Nodal Exchange market. Institutions that have been approved as FCM clearing members are designated with "FCM."
- ADM Investor Services, Inc. (FCM)
- BNP Paribas Prime Brokerage, Inc. (FCM)
- Citigroup Global Markets Inc. (FCM)
- Goldman, Sachs & Co. (FCM)
- Macquarie Futures USA LLC (FCM)
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (FCM)
- Mizuho Securities USA Inc. (FCM)
- Morgan Stanley & Co. LLC (FCM)
- RBC Capital Markets, LLC (FCM)
- Royal Bank of Canada
- SG Americas Securities, LLC (FCM)
- Wells Fargo Securities, LLC (FCM)
“We are very pleased to have such a robust list of clearing members ready to support Nodal Exchange participants upon transition to Nodal Clear,” said Paul Cusenza, Chairman and Chief Executive Officer of Nodal Exchange and Nodal Clear. “We sincerely appreciate the support and efforts of all of our clearing members in making this transition to Nodal Clear possible.”
Nodal Clear was granted registration as a derivatives clearing organization (DCO) by the U.S. Commodity Futures Trading Commission (CFTC) on September 24, 2015, and Nodal Exchange plans to transition the clearing house for contracts listed for trading on Nodal Exchange from LCH.Clearnet Limited in the United Kingdom to Nodal Clear in the United States on October 19, 2015. After the transition, Nodal Clear will serve as the central counterparty for all Nodal Exchange transactions.
