NEW YORK, Jul. 16 (Korea Bizwire) — Today, Nasdaq (Nasdaq:NDAQ) announced that Nasdaq Futures, Inc. (NFX), the exchange group’s US-based energy futures market, has approved 16 Futures Commission Merchants (FCMs) as new members.
Some of the new members include: ABN AMRO Group, ADM Investor Services, Advantage Futures, Citigroup Global Markets, ED&F Man Capital Markets, Goldman Sachs, INTL FCStone, J.P. Morgan, Merrill Lynch, Mizuho Securities USA, Phillip Capital, Rosenthal Collins Group, Societe Generale and Wedbush Futures.
“Nasdaq’s new initiative dramatically reduces clearing and exchange fees,” said Joseph M. Guinan, Jr., Chief Executive Officer, Advantage Futures. “Competition improves markets. NFX benefits clients and Advantage Futures enthusiastically supports this launch.”
“We provide our customers financial products, along with advisory and execution services, to help them access market liquidity, protect margins and manage risk through our access to 31 global derivative exchanges,” said Gregory Greves, Managing Director of CES of INTL FCStone Financial Inc.’s FCM Division. “We are thrilled with the moves Nasdaq is making to provide our customers another channel to manage their energy exposure.”
“With the official launch date of the Nasdaq Futures approaching, we have partnered with our customers to be ready to support the exchange on day one,” said Robert Vujtech, Managing Director and Global Head of Agency Energy, Societe Generale. “Societe Generale looks forward to working with Nasdaq Futures to continue to expand our global market access offering.”
“We are pleased to welcome all of these new members to Nasdaq Futures,” said Magnus Haglind, Vice President and Head of U.S. Commodities, Nasdaq. “We continue to see strong interest from market participants, and we are working with them to facilitate easy access to our markets. The addition of these new members, representing premier FCMs, will facilitate broad customer access and allow firms to manage their trading and hedging needs in a cost-efficient way.”
Nasdaq’s Global Commodities business offers trading and clearing solutions for assets including power, natural gas and carbon emission markets, tanker and dry cargo freight, fuel oil, seafood derivatives, iron ore, electricity certificates and clearing services. With competitive fees and a range of liquidity providers, Nasdaq provides a cost-effective, transparent and efficient marketplace that appeals to all types of trading entities.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of approximately $9.5 trillion and more than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com.
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Source: NASDAQ OMX Group via GLOBE NEWSWIRE