Washington, DC – January 31, 2020 – Nodal Clear, LLC, the clearing house for Nodal Exchange, today announced that Wedbush Securities Inc. has been approved as a clearing member.
“We are pleased to welcome Wedbush Securities as a clearing member to Nodal Clear,” said Paul Cusenza, Chairman & CEO of Nodal Clear and Nodal Exchange. “Nodal Exchange continues to grow, and we see this reflected in our growing community of participants and clearing members. As we continue to develop our core businesses and expand into new asset classes, we are pleased that Wedbush Securities will now offer its customers the ability to take advantage of Nodal Exchange’s trading and risk management services.”
“Wedbush is excited to become the newest clearing member of Nodal Exchange,” said Bob Fitzsimmons, Executive Vice President of Wedbush Securities. “Our clients are active traders in the power and energy markets, and access to Nodal products is a key need for any major player in this space.”
Nodal Clear began clearing Nodal Exchange contracts on October 19, 2015. All transactions on Nodal Exchange are cleared through Nodal Clear.
About Wedbush Futures
Wedbush Futures, a division of Wedbush Securities Inc., is one of the largest non-bank Futures Commission Merchants (“FCM”) in the United States. The division specializes in clearing and financing activities for professional traders and strategic correspondents. Located in Chicago, Wedbush Futures is at the forefront of our business, with deep industry specialization and a distinguished track record in financial securities. Wedbush Futures’ client relationships are built on trust and supported by our firm, which is rooted in experience, stability, and innovation.
About Nodal Clear, LLC
Nodal Clear, LLC serves as the central counterparty for all Nodal Exchange transactions. Nodal Clear’s strong risk management practices create a sound market infrastructure for trading Nodal Exchange contracts. Nodal Clear employs a tailored portfolio margining methodology that appropriately margins Nodal Exchange contracts and provides capital efficiencies to market participants. Nodal Clear is a derivatives clearing organization (DCO) regulated by the U.S. Commodity Futures Trading Commission (CFTC). Nodal Clear, LLC is a wholly owned subsidiary of Nodal Exchange, LLC.
About Nodal Exchange, LLC
Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American commodities markets. Nodal Exchange is a leader in innovation, having introduced the world’s largest set of electric power locational (nodal) futures contracts. As part of EEX Group, a group of companies serving international commodity markets, Nodal Exchange currently offers over 1,000 contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. In addition, Nodal Exchange offers natural gas, environmental and trucking freight contracts. All Nodal Exchange contracts are cleared by Nodal Clear. Nodal Exchange is a designated contract market (DCM) regulated by the CFTC.