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Nasdaq Futures announces 16 new members

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Nasdaq Futures, Inc (NFX), the exchange group's US-based energy futures market, has approved 16 Futures Commission Merchants (FCMs) as new members.

Some of the new members include: ABN AMRO Group, ADM Investor Services, Advantage Futures, Citigroup Global Markets, ED&F Man Capital Markets, Goldman Sachs, INTL FCStone, J.P. Morgan, Merrill Lynch, Mizuho Securities USA, Phillip Capital, Rosenthal Collins Group, Societe Generale and Wedbush Futures.

"Nasdaq's new initiative dramatically reduces clearing and exchange fees," says Joseph M Guinan, Jr, Chief Executive Officer, Advantage Futures. "Competition improves markets. NFX benefits clients and Advantage Futures enthusiastically supports this launch."

"We provide our customers financial products, along with advisory and execution services, to help them access market liquidity, protect margins and manage risk through our access to 31 global derivative exchanges," says Gregory Greves, Managing Director of CES of INTL FCStone Financial Inc's FCM Division. "We are thrilled with the moves Nasdaq is making to provide our customers another channel to manage their energy exposure."

"With the official launch date of the Nasdaq Futures approaching, we have partnered with our customers to be ready to support the exchange on day one," says Robert Vujtech, Managing Director and Global Head of Agency Energy, Societe Generale. "Societe Generale looks forward to working with Nasdaq Futures to continue to expand our global market access offering."

"We are pleased to welcome all of these new members to Nasdaq Futures," says Magnus Haglind (pictured), Vice President and Head of US Commodities, Nasdaq. "We continue to see strong interest from market participants, and we are working with them to facilitate easy access to our markets. The addition of these new members, representing premier FCMs, will facilitate broad customer access and allow firms to manage their trading and hedging needs in a cost-efficient way."

Nasdaq's Global Commodities business offers trading and clearing solutions for assets including power, natural gas and carbon emission markets, tanker and dry cargo freight, fuel oil, seafood derivatives, iron ore, electricity certificates and clearing services. With competitive fees and a range of liquidity providers, Nasdaq provides a cost-effective, transparent and efficient marketplace that appeals to all types of trading entities.

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