WASHINGTON--(BUSINESS WIRE)--Nodal Clear, LLC, the clearing house subsidiary of Nodal Exchange, has been named “Newcomer of the Year” by Energy Risk magazine at The Energy Risk Awards 2016. Energy Risk Awards recognize excellence across global energy and commodities markets.
Nodal Clear commenced clearing Nodal Exchange contracts October 19, 2015 and serves as the central counterparty for all Nodal Exchange transactions. Since the October 19th transition to Nodal Clear, trading volumes on Nodal Exchange have risen significantly with Q4 2015 volumes up 70% percent from Q3 2015. This growth continues into 2016 with Nodal Exchange volumes from January to April 2016 up 116% compared to the same time period in the previous year.
“Nodal Clear is honored to receive the Newcomer of the Year Award from Energy Risk magazine,” said Paul Cusenza, Chief Executive Officer of Nodal Exchange. “The successful transition to Nodal Clear was a tremendous achievement and milestone for our organization and was made possible only through the efforts and dedication of the employees of Nodal Clear and Nodal Exchange and all those in our trading and clearing community. We sincerely appreciate this support and are so pleased that Energy Risk has acknowledged these accomplishments.”
Energy Risk presented the “Newcomer of the Year” award at a dinner in Houston on May 17th.
About Nodal Clear, LLC
Nodal Clear, LLC, the clearing house for Nodal Exchange, commenced clearing Nodal Exchange contracts on October 19, 2015. Nodal Clear 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 registered derivatives clearing organization and is 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 regulated by the CFTC. Nodal Exchange is an independent, privately held company.