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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Deutsche Boerse Ag Namen Akt (PK) | USOTC:DBOEF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-3.24 | -1.58% | 201.875 | 180.50 | 223.00 | 201.875 | 201.875 | 201.875 | 418 | 21:44:36 |
By Michael Dabaie
Energy and commodity market platforms company EEX Group said it agreed to acquire Nasdaq Futures Inc.'s futures and options exchange business.
EEX Group, part of Deutsche Boerse Group, will acquire the core assets of Nasdaq Inc.'s (NDAQ) Nasdaq Futures, or NFX, including the portfolio of open interest in NFX contracts.
EX Group trading venues include European Energy Exchange, EPEX SPOT, Powernext, EEX Asia and Nodal Exchange.
The transaction involves the transfer of existing open positions in U.S. power, U.S. natural gas, crude oil, ferrous metals and dry bulk freight futures and options contracts to EEX's clearing houses, Nodal Clear and European Commodity Clearing.
"Nasdaq entered the U.S. futures marketplace in response to clients who wanted to develop new ways to innovate around energy and freight trading. After evaluating the steady progress we made to expand our client base and grow open interest, the next step forward is for EEX and Nodal to continue this mission," said Kevin Kennedy, senior vice president of North American market services at Nasdaq
Nodal and Nodal Clear plan to complete the integration of U.S. power contracts by December 2019. EEX and ECC aim to complete the transfer of all open positions in dry bulk freight by February 2020. U.S. natural gas, crude oil and ferrous metals contracts will transfer to Nodal in spring 2020, EEX said.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
November 12, 2019 09:40 ET (14:40 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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