Nodal Exchange to Provide CQG’s Trading Platform as Trading Screen for Nodal Contracts
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.
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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.
About Nodal Exchange
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. As part of EEX Group, a group of companies
serving international commodity markets, 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 which is a CFTC
registered derivatives clearing organization. Nodal Exchange is a
designated contract market regulated by the CFTC.
About CQG
CQG provides
the industry’s highest performing solutions for trading, global market
data, and advanced technical analysis. The firm partners with the vast
majority of futures brokerage and clearing firms and provides Direct
Market Access (DMA) to more than 45 exchanges through its global network
of co-located Hosted Exchange Gateways. CQG's server-side order
management tools for spreading, market aggregation, and smart orders are
unsurpassed for speed and ease of use. Its market data feed consolidates
more than 75 sources, including exchanges worldwide for futures,
options, fixed income, foreign exchange, and equities, as well as data
on debt securities, industry reports, and financial indices. CQG has
received the Prop Traders' ISV of the Year award from FOW (now Global
Investor Group), the Best Technical Analysis Platform award from The
Technical Analyst, and the Best Product for Traders award from Finance
Magnates for its multi-asset trading platform. CQG is headquartered in
Denver, Colorado, with sales and support offices worldwide.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180628005082/en/
Copyright Business Wire 2018
Source: Business Wire
(June 28, 2018 - 9:00 AM EDT)
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