Launched in 2015, NFX offers key energy benchmarks in futures and options on oil, gas and U.S. power.
“With more than 100 products now trading on NFX, clients of Rival will have access to our growing liquidity and open interest, which benefits all market participants,” said Rick Beaman, Vice President and CEO of NFX at Nasdaq. “Adding Rival to our growing list of trading technology providers further highlights demand for our competitive mix of new products, competitive fees that are 50% of incumbent rates and clearing services designed to meet the needs of futures traders.”
“By adding connectivity to NFX, our clients are now able to trade and manage risk on benchmark energy products across all of the major exchanges,” said Robert D’Arco, Rival Systems CEO. “Clients can access NFX throughout the entire Rival ecosystem and leverage our innovative features to easily integrate NFX markets into their trading strategies. NFX has brought great technology, compelling products and a competitive cost structure into the energy market, and we’re excited to make the offering available to our clients.”
With like products trading across multiple exchanges, traders need the ability to seamlessly integrate data, control strategies and normalize risk from one system. With Rival, options market makers can link volatility, underlying prices and quoting formulas across products to provide liquidity on all of the energy exchanges. Algorithmic traders can quickly incorporate NFX into their automated trading strategies without having to make any code changes. Risk managers can easily view real-time P&L and normalized risk across all of their energy trading accounts.
“In our first year we’ve added connectivity to all of the major U.S. and European futures exchanges to meet our client demands,” continued D’Arco. “Over the next six months, we’ll be adding access to fixed income markets and extending our capabilities for U.S. equities and equity options.”