On the 12th December, EEX Group successfully completed the first migration of Freight Open Interest from Nasdaq Futures, Inc. (NFX) toEuropean Commodity Clearing (ECC), EEX Group’s clearing house. In the first of three scheduled matching sessions, a total of 69,144 lots of Freight Open Interest, which equates to more than 40% of the entire NFX Freight portfolio, was migrated from NFX’s clearing house Options Clearing Corporation (OCC) to ECC.
Speaking on the migration, Steffen Koehler, EEX Chief Operating Officer comments: “I am very encouraged with the results of the 1stmatching session and would like to extend my sincere thanks to both EEX and NFX customers for their positive reaction to the NFXacquisition announcementand for their commitment tothe migration process. The agreement we have made with NFX is a watershed moment for EEX Group’s Global Commodities business which further demonstrates our belief in this marketand I look forward to the subsequent matching sessions in January 2020.”
Since launching theGlobal Commodities business in 2016, EEX Group hascontinued to develop and expand its offering thereby demonstrating its commitment to the seaborne commodities sector. The NFX acquisition, which involves the transfer of existing open positions inDry Bulk Freight futures and options contracts to EEX Group’s clearing house ECC signifies another major development for EEX Group’s Global Commodities business as it continues to expand its presence in this market. The remaining two matching sessions are scheduled to take place on the 16thJanuary and the 30thJanuary respectively.
EEX Group provides market platforms for energy and commodity products across the globe, providing access to a network of more than 600 trading participants. The group offers trading in energy, environmental products, freight, metal and agriculturals as well as subsequent clearing and registry services. EEX Group consists of the trading venues European Energy Exchange (EEX), EPEX SPOT, Powernext, EEX Asia and Nodal Exchange as well as the registry provider Grexel Systems and the clearing houses European Commodity Clearing (ECC) and Nodal Clear. EEX is a member of Deutsche Börse Group. More information: www.eex-group.com.
Contact:
EEX Public Relations
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