Wells Fargo To Offer Clients Cearing Member Services For Nodal Exchange

Nodal Exchange, LLC announced that Wells Fargo Securities,  LLC,  through  its LCH.Clearnet Ltd membership, is now offering clients clearing member services for Nodal Exchange.

Since Nodal Exchange’s launch in April 2009, it has become a significant part  of  the  North American power market, providing the most granular and diverse set of locations for trading of cleared power contracts in North America.

“Wells Fargo Securities is pleased to become a clearing member supporting Nodal Exchange as it is an important step in the growth of our clearing capabilities across exchanges,” states George Simonetti, managing director and head of Markets Clearing and Futures Execution, Wells Fargo Securities. “Additionally, it is important for us to offer clients access to Nodal’s product suite so we can better meet their risk management needs.”

“We are very happy to be able to add Wells Fargo as a clearing member supporting customer business on Nodal Exchange,” said Ann Sacra, President and Chief Operating Officer of Nodal Exchange. “Since launch, Nodal Exchange has seen significant growth and this is reflected in our growing community of clearing members and participants. We are very pleased that the introduction of Wells Fargo as a clearing member will allow its customers the opportunity to take advantage of the many benefits of Nodal Exchange.”