March 12, 2015 09:00 AM Eastern Daylight Time
WASHINGTON & KING OF PRUSSIA, Pa.–(BUSINESS WIRE)–Nodal Exchange and Innotap announced today an agreement to leverage Nodal Exchange’s North American power and natural gas commodity data in Innotap’s products. The first step in this collaboration is a release of Innotap’s new Nodal Exchange app, which provides traders with real-time actionable insights using market data from the exchange. Users will be able to perform in-depth analysis on forward price curves and set up price alerts to notify them of changes in market prices for any outright or spread position.
“We are excited about Innotap’s Nodal Exchange app as we believe it will provide participants with valuable insights that allow them to trade more effectively on Nodal Exchange,” said Paul Cusenza, Chairman and Chief Executive Officer of Nodal Exchange. “We are very pleased that leading technology companies, like Innotap, continue to provide tools that add value to participants trading on Nodal Exchange.”
“Innotap provides realtime energy market data, analytics and intelligence delivery to traders’ desktops, spreadsheets, and proprietary trading solutions. To merge Innotap’s platform with Nodal Exchange is a perfect blending of technology and capabilities that will increase market liquidity and improve risk-reward decision making,” said Ron Swartz, Founder and CEO of Innotap.
About Nodal Exchange, LLC
Nodal Exchange is the first commodities exchange dedicated to offering locational (nodal) futures contracts and related services to participants in the organized North American electric power markets. Nodal Exchange offers contracts for both power and natural gas. Nodal Exchange builds on the success of the existing Regional Transmission Organization/Independent System Operator (RTO/ISO) Day Ahead and Real Time markets by offering cash-settled futures contracts in a cleared market enabling Nodal Exchange participants to effectively manage basis and credit risk. Nodal Exchange offers over 1,000 contracts on hundreds of unique locations in the RTO/ISO markets. Nodal Exchange is a designated contract market regulated by the CFTC with all contracts cleared by LCH.Clearnet Ltd. Nodal Exchange is an independent, privately held company. For more information, visit www.nodalexchange.com.
Innotap is the leading provider of realtime decision support apps for energy and commodity traders who require low-latency data and trading solutions. Innotap’s mission is to provide its customers with actionable insights on realtime market conditions fast enough to capture opportunities before energy/commodity markets change. Innotap aggregates and delivers North American energy market data and information to enable intra-day liquidity and competitive electricity markets.
Nicole Ricard, 703-962-9816
Joe Mac Crory, 855-438-4666
Innotap Nodal Exchange press release (pdf)
Read press release on Business Wire