30th July, 2015
Nasdaq NFX launched into the highly competitive-energy space on Friday
Global exchange group Nasdaq on Tuesday saw the first options trade on its newly-launched energy exchange, Nasdaq Futures (NFX), since launching last week.
The first options contract on the new exchange was brokered by independent inter-dealer broker OTC Global Holdings' (OTCGH) firm Ion Energy Group on Tuesday, the company told FOW on Thursday.
NFX successfully launched on Friday after months of work on the fledgling platform.
As well as offering brokerage services on Nasdaq's new platform, the broker has also integrated its EOXLive commodity trading platform on NFX.
“Daring to do things differently, like expanding our brokering services to include the NFX, is consistent with OTCGH’s mission and allows the company’s brokers to continue providing unmatched service and liquidity to our customers in an ever-changing market," said Sid Perkins, Ion Energy's managing director.
Ion offers client brokerage services, as well as expertise across natural gas liquids (NGL), product options and the natural gas and crude markets, it said.
OTCGH has a portfolio of commodities brokers across financial and physical instruments.
Nasdaq's energy play, as first reported by FOW, went live on Friday, offering 26 products across the energy space.
Magnus Haglind, chief executive of NFX, told FOW in an exclusive interview in the days leading up to launch last week that the firm is targeting a 10% market share within the first two years of operations for the long-awaited exchange.
Since announcing the push into energy - which sees Nasdaq pitching its offering in direct competition with incumbents The Intercontinental Exchange and CME Group - at the FIA conference in March this year, the group has been aggressively signing partnerships with clients and technology providers, launching last week with the backing of more 40 firms as well as 16 members approved as brokers.
FOW spoke to a number of market participants in the lead up to last week's launch, with traders still speculating whether there is space in the market for a new player, and whether the initial fee-holiday would be enough to attract and keep customers trading. Read more: http://www.fow.com/3473647/Market-holds-breath-on-Nasdaq-NFX.html.html?Keywords=nfx
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