trending Market Intelligence /marketintelligence/en/news-insights/trending/tB0fOT8nZcx7K0aGScakCA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Nasdaq holds out hope for energy futures marketplace profitability

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August


Nasdaq holds out hope for energy futures marketplace profitability

Nasdaq Inc. is winding down its NLX interest rate futures business, but it is hopeful that Nasdaq Futures Inc. will become profitable in the future even though the business is still negative in terms of revenue.

The announcement that NLX interest rate futures business is being shut down has raised some questions as to whether Nasdaq has similar plans for NFX, a U.S.-based derivatives market for key energy benchmarks. President and CEO Adena Friedman reassured participants on Nasdaq's recent earnings call that there is a "path of profitability" for NFX.

Friedman said weak open interest coupled with delays from LCH and its ability to support cross margining across the short end as well as long end has led to limited momentum in Nasdaq's NLX interest rate futures business.

Comparing NLX and NFX, Friedman said the former failed to hit 50,000 contracts in open interest in 2016, while NFX saw almost 1.5 million contracts in open interest. She attributed the high number of contracts in NFX to clients' commitment and their desire to see competition in the business.

"So it was just a totally different experience with our customers as we've looked at the juxtaposition of these two businesses, and it was time, I think, with NLX to say, you know, we don't see a path to long-term success here," Friedman said on the call. Related to NFX, however, she said the company sees "a path to long-term success, assuming we can continue the momentum in the business and that continued commitment from the customers, which is really pretty spectacular right now."

CFO Michael Ptasznik said closing NLX will result in approximately $6 million of savings for Nasdaq in 2017.