Nasdaq Futures sells commodities business to EEX Group
EEX Group and U.S. based Nasdaq (NDAQ) Futures, or NFX, have reached an agreement to sell NFX's futures and options exchange business to EEX Group. EEX Group will acquire the core assets of NFX, including the portfolio of open interest in NFX contracts. The transaction involves the transfer of existing open positions in U.S. Power, U.S. Natural Gas, Crude Oil, Ferrous Metals and Dry Bulk Freight futures and options contracts to EEX Group's clearing houses Nodal Clear and European Commodity Clearing, or ECC. The parties will now begin the necessary technical preparations to facilitate the open interest transfer to ensure that position holders experience a seamless transition. Both EEX Group and NFX are committed to ensuring that all NFX clients continue to receive customer service during and following the transfer period. Nodal and Nodal Clear plan to complete the integration of U.S. Power contracts by December. EEX and ECC aim to complete the transfer of all open positions in Dry Bulk Freight by February 2020. U.S. Natural Gas, Crude Oil and Ferrous Metals contracts will transfer to Nodal in spring 2020.