Nodal Clear, LLC, the clearing house for Nodal Exchange, today announced
that ED&F Man Capital Markets Inc. has been approved as a clearing
member.
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“We are delighted to welcome ED&F Man as a clearing member to Nodal
Clear,” said Paul Cusenza, Chairman & CEO of Nodal Clear and Nodal
Exchange. “Nodal Exchange has enjoyed significant growth in recent
years, and we see this reflected in our growing community of clearing
members and participants. As we continue to develop our core businesses
and expand into new asset classes, we are pleased that ED&F Man will now
offer its customers the ability to take advantage of Nodal Exchange’s
robust trading and risk management services.”
Chris Smith, Global CEO of ED&F Man Capital Markets, commented, “ED&F
Man Capital Markets is committed to providing its clients with access to
the full suite of capital markets products and markets and are pleased
to have become a clearing member of Nodal Exchange.”
Nodal Clear began clearing Nodal Exchange contracts on October 19, 2015.
All transactions on Nodal Exchange are cleared through Nodal Clear.
ABOUT NODAL CLEAR, LLC
Nodal Clear, LLC serves as the central counterparty for all Nodal
Exchange transactions. Nodal Clear’s strong risk management practices
create a sound market infrastructure for trading Nodal Exchange
contracts. Nodal Clear employs a tailored portfolio margining
methodology that appropriately margins Nodal Exchange contracts and
provides capital efficiencies to market participants. Nodal Clear is a
derivatives clearing organization (DCO) regulated by the U.S. Commodity
Futures Trading Commission (CFTC). Nodal Clear, LLC is a wholly owned
subsidiary of Nodal Exchange, LLC.
ABOUT NODAL EXCHANGE, LLC
Nodal Exchange is a derivatives exchange providing price, credit and
liquidity risk management solutions to participants in the North
American energy markets. Nodal Exchange is a leader in innovation,
having introduced the world’s largest set of electric power locational
(nodal) futures contracts. Nodal Exchange currently offers over 1,000
contracts on hundreds of unique locations, providing the most effective
basis risk management available to market participants. In addition,
Nodal Exchange offers a Henry Hub natural gas contract providing
cross-margining benefits with participant’s power portfolios. All Nodal
Exchange contracts are cleared by Nodal Clear. Nodal Exchange is a
designated contract market (DCM) regulated by the CFTC.
ABOUT ED&F MAN CAPITAL MARKETS
ED&F Man Capital Markets Inc. is regulated by the US Securities and
Exchange Commission (SEC) and the Financial Industry Regulatory
Authority (FINRA), as well as the US Commodity Futures Trading
Commission (CFTC) and the National Futures Association. We are members
of the Securities Investor Protection Corporation (SIPC). The firm has
230 employees and provides execution and clearing services to its
customers. Its US offices are in Chicago, Miami and New York.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180920005510/en/
Copyright Business Wire 2018
Source: Business Wire
(September 20, 2018 - 10:00 AM EDT)
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