Nasdaq Futures (NFX) shook up the energy futures space last year with its entry into the energy exchange space in July 2015. Now the company is looking to gain some ground on its established competitors, CME Group and Intercontinental Exchange.
With gas oil and natural gas futures now attracting acceptable volumes for NFX, Magnus Haglind, CEO of Nasdaq Futures, Inc. told JLN that the exchange is focusing its attention on Brent, WTI and other energy futures. Beyond that, Haglind said it plans to set its sights on options on those products as well.
Haglind said the market is growing, in terms of its market participant base as well. The exchange started with 16 FCMs and recently added Straits Financial as well.
“That is a good sign of maturity in that, additional customers are interested in trading the product, and to trade and execute on NFX,” he said. “What is important during this is year, is whether we can add more of the OTC market to energies and commodities.”
NFX set a goal of gaining 10 percent of the overall listed energy market volume over the following two years after its launch. Haglind said the exchange is on pace for even more than that already in its gas oil and natural gas markets, hitting up to 20 percent.
“We’re on a good path and we know it’s certainly going to take time to build strong liquidity in all products, but we’re on a good trajectory,” Haglind said.