Nasdaq Futures

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Nasdaq Futures, Inc.
Founded 2015
Products Electronically traded futures and options

Nasdaq Futures Exchange, Inc. (NFX) is a Designated Contract Market regulated by the U.S. Commodity Futures Trading Commission. It was acquired by European Energy Exchange AG in November 2019 from Nasdaq and its contracts were shifted to EEX's subsidiary Nodal Exchange.[1]


NFX was announced in March of 2015, and trading began on July 24th, 2015.

The exchange offered traders a fee holiday during its first nine months of operation.[2] [3]

The exchange launched with 25 energy futures and options contracts and added to this list over the following year. It expanded to more than 110 futures and options based on natural gas, crude oil and power products and interest rates.[4]

By March 2016, more than 7 million contracts had been traded on Nasdaq Futures with open interest of 700,000 contracts. In 2018, NFX volumes totaled 22 million contracts, down 55% from the prior year's volume of 49.1 million contracts. Through the first half of 2019, volumes totaled 4.5 million contracts, down 65% from 13.1 million contracts in the first half of 2018.[5][6] [7] Nasdaq NFX hopes to attract volume from the incumbents with lower trading and clearing costs, offered through the Options Clearing Corporation.[8] [9]

NFX is a fully electronic exchange that uses Nasdaq’s GENIUM INET technology, which features a transparent central limit order book and real-time trade reporting functionality along with pre-trade risk management capabilities. Nasdaq Futures' independent software vendors are Orc, CQG, OptionsCity, Stellar Trading Systems, Trading Technologies and DTN Trading.[10] Access is provided by 17 futures commission merchants.[11]

Products and Services[edit]

NFX offers a variety of contracts but is mainly focused on energy futures. Its energy offerings include natural gas, oil, and electricity as well as freight and petrochemical financial futures and steel scrap futures.

Nasdaq announced on July 2, 2018 that it would launch a suite of interest rate products called DV01 U.S. Treasury Futures on NFX pending regulatory approval. The U.S. DV01 Futures will be cash settled On-The-Run U.S. Treasury futures contracts expressed as 100 minus the yield of the corresponding U.S. Treasury security, similar to the pricing of three-month Eurodollar interest rate futures.[12]

A full list of NFX contracts can be found here.

Key People[edit]