WASHINGTON & CHICAGO & DENVER--(BUSINESS WIRE)--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.
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.
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.