EEX Group has successfully completed the first migration of Freight Open Interest from Nasdaq Futures, Inc (NFX) to European Commodity Clearing (ECC), EEX Group’s clearing house.
In the first of three scheduled matching sessions, a total of 69,144 lots of Freight Open Interest, which equates to more than 40 per cent of the entire NFX Freight portfolio, was migrated from NFX’s clearing house Options Clearing Corporation (OCC) to ECC.
Speaking on the migration, Steffen Koehler (pictured)(, EEX Chief Operating Officer, says: “I am very encouraged with the results of the 1st matching session and would like to extend my sincere thanks to both EEX and NFX customers for their positive reaction to the NFX acquisition announcement and for their commitment to the migration process. The agreement we have made with NFX is a watershed moment for EEX Group’s Global Commodities business which further demonstrates our belief in this market and I look forward to the subsequent matching sessions in January 2020.”
Since launching the Global Commodities business in 2016, EEX Group has continued to develop and expand its offering thereby demonstrating its commitment to the seaborne commodities sector. The NFX acquisition, which involves the transfer of existing open positions in Dry Bulk Freight futures and options contracts to EEX Group’s clearing house ECC signifies another major development for EEX Group’s Global Commodities business as it continues to expand its presence in this market. The remaining two matching sessions are scheduled to take place on the 16 January and the 30 January respectively.
