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EEX Group and Nasdaq Futures, Inc. (NFX) successfully complete transfer of Freight business
Peter Reitz, EEX Chief Executive Officer comments: “The NFX Freight migration is certainly a watershed moment for EEX Group’s freight business and one which has helped us realise our strategic ambition to become a major player in global freight markets. I am very pleased and encouraged to see such a positive final result and would like to thank our customers for supporting this initiative as well as the teams at NFX and EEX Group for making the migration project so successful”.
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 yet another major development for EEX Group’s Global Commodities business as it continues to expand its presence in this market.
Furthermore, EEX Group’s performance in Dry Bulk Freight has seen significant growth over the past 12 months, achieving double and triple digit increases each quarter. This period of sustained organic growth in conjunction with the NFX migration volumes has resulted in EEX gaining a 46% share of the OI in the total freight market (futures and options) and a 51% share of the open interest in the freight futures market.
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