Exchange signed Wells Fargo as a clearing member last week
Commodities market Nodal Exchange has said
it is working toward a launch of its own clearing house in the
last quarter of 2015, after late last year applying for
approval from US regulator.
The firm has earmarked a fourth quarter
transition of its clearing business from existing partner
LCH.Clearnet to its own Nodal Clear, pending regulatory
approval from the US Commodity Futures Trading Commission, Paul
Cusenza, chief executive of the exchange told FOW.
"Things are going well ahead of the
transition. Our agreement with LCH.Clearnet has served us well
but we are now at a scale where we can self-clear so that is
the next phase for our business -- the launch of Nodal Clear,"
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