NASDAQ OMX Futures Exchange

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NASDAQ OMX Futures Exchange

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The NASDAQ OMX Futures Exchange (NFX), formerly the Philadelphia Board of Trade (PBOT) began as a futures exchange and a subsidiary of the Philadelphia Stock Exchange commonly known as the PHLX. The U.S. Commodity Futures Trading Commission certified the Philadelphia Board of Trade as a designated contract market on May 26, 2006. NFX offers trading of IDEX USD Interest Rate Swap Futures, World Currency Futures and Sector Index Futures. NFX futures contracts are cash settled, not deliverable contracts.

The clearing house for IDEX USD Interest Rate Swap Futures contracts is International Derivatives Clearing House (IDCH). The clearing house for all other NFX trades is The Options Clearing Corporation (OCC).

As part of its Philadelphia Stock Exchange acquisition, NASDAQ acquired the futures market operated by the PBOT and the Stock Clearing Corporation of Philadelphia (SCCP) in July 2008.[1]. On January 20, 2009, NASDAQ OMX Group, Inc. renamed the Philadelphia Board of Trade the NASDAQ OMX Futures Exchange (NFX). As a result of this acquisition, the offerings of the PBOT were combined with NASDAQ's existing offerings. [2]

In January 2014, the CFTC classified the exchange as a dormant contract market. However, in November 2014, the regulator reinstated Nasdaq Futures as a designated contract market. [3]

The NFX Announcement, FIA Boca Conference 2015

In March 2015, NASDAQ announced its launch of a U.S. based platform for energy futures to, in the words of CEO Bob Greifeld, to bring around the demise of the monopolistic environment” in energy trading.[4]

The exchange, officially called Nasdaq Futures, Inc. (NFX), launched in July 2015.[5]

References

  1. NASDAQ to Acquire Philadelphia Stock Exchange. Nasdaq.
  2. Nasdaq OMX Rebrands Philadelphia Board of Trade to NASDAQ OMX Futures Exchange. Nasdaq OMX website.
  3. Nasdaq plans challenge to CME and ICE in energy derivatives. India Times.
  4. Nasdaq to Launch Energy Futures Market. Wall Street Journal.
  5. Nasdaq NFX goes "viral" with clients - CEO. FOW.