WASHINGTON--(BUSINESS WIRE)--Nodal Exchange, LLC announced today that UBS Securities, LLC, through its LCH.Clearnet Ltd membership, is now offering clients Clearing Member services for Nodal Exchange.
“Nodal Exchange is very happy to add UBS to the list of clearing members supporting customer business on Nodal Exchange,” said Ann Sacra, President and Chief Operating Officer of 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. We are very pleased that UBS will now offer its clients the ability to take advantage of the Exchange’s robust product offerings.”
“In response to growing interest in the market, we are proud to be able to offer our clients clearing services on Nodal Exchange to better meet their risk management needs,” said Mark Daniels, Managing Director and UBS’s US Head of Clearing and Execution.
About Nodal Exchange, LLC
Nodal Exchange is the first commodities exchange dedicated to offering locational (nodal) futures contracts and related services to participants in the organized North American electric power markets. Nodal Exchange offers contracts for both power and natural gas. Nodal Exchange builds on the success of the existing Regional Transmission Organization/Independent System Operator (RTO/ISO) Day Ahead and Real Time markets by offering cash-settled futures contracts in a cleared market enabling Nodal Exchange participants to effectively manage basis and credit risk. Nodal Exchange offers over 1,000 contracts on hundreds of unique locations in the RTO/ISO markets. Nodal Exchange is a designated contract market regulated by the CFTC with all contracts cleared by LCH.Clearnet Ltd. Nodal Exchange is an independent, privately held company. For more information, visit www.nodalexchange.com.