For its derivatives contracts, upstart energy futures market Nasdaq Futures (NFX) will be using a settlement price solution from OptionsCity Software, a futures and options trading and analytics solutions vendor, officials say.
The relatively new Nasdaq OMX Group market competes against CME Group and the Intercontinental Exchange.
“As NFX continues to grow, it’s important that we further develop our capabilities for establishing accurate settlement prices for options on futures in a timely manner,” says Magnus Haglind, vice president and head of U.S. Commodities at Nasdaq, in a prepared statement. OptionsCity has “quickly been able to provide us with a customized solution that can easily be integrated with our leading exchange platform,” Haglind says.
OptionsCity’s settlement solution is built on top of the vendor’s flagship Metro NOW platform, which includes pricing and risk-management analytics, vendor officials say.
“This initiative is aligned with the OptionsCity vision to leverage its core competencies in pricing and analytics to be the power behind exchanges,” said Dan Rooney, OptionsCity’s vice president of global sales, in a prepared statement.
NFX offers a mix of new products, fees, technology, and clearing services, officials say. NFX also offers key energy benchmarks intended to help market participants to diversify their portfolios and provide a hedging tool, say NFX officials.
Photo courtesy of Julien Gong Ming, Flickr
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