Nasdaq launches broad range of Canadian Crude Index Futures

November 19, 2018

Futures contracts are based on Enerdata's Canadian Consolidated Indices (CCI), with Marex Spectron and One Exchange contributing execution data to the indices in real-time.

 

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Enerdata, the independent energy information firm, has today announced the launch of CCI Canadian Crude Financial Futures contracts on Nasdaq Futures, Inc. (NFX).

These contracts are based on Enerdata’s Canadian Consolidated Indices (CCI), which are consolidated from trades of the underlying physical Canadian Crude market. Marex Spectron and One Exchange, leading energy brokers, will contribute execution data to the indices in real-time, independent of NFX and Enerdata.

The NFX range of Canadian crude futures contracts includes:

NWC NFX (C.C.I.)        Western Canadian Select Crude Oil Basis Futures

NSP NFX (C.C.I.)           Canadian Synthetic Sweet Crude Oil Basis Futures

NSR NFX (C.C.I.)          Canadian Sour Crude Oil Basis Futures

NSW NFX (C.C.I.)         Canadian Light Sweet Crude Oil Basis Futures

NC5 NFX (C.C.I)           Canadian Condensate (C5) Basis Futures

These futures contracts are demand driven, with market participants seeking to hedge the basis risk of a significant volume of barrels not covered by traditional contracts.

Kevin Kennedy, CEO of NFX added: “Adding the CCI Futures to the NFX energy product suite expands our North American crude oil portfolio into Canada, and, combined with the low cost NFX platform, can bring significant value to the Canadian crude oil trading and hedging community.”

Ian Lowitt, CEO Marex Spectron added: “Having successfully launched CCI last year following demand from our clients, it has become an established industry benchmark for Canadian crude. Given the greater liquidity of the Enerdata indices, partnering with Nasdaq to offer futures contracts is the logical step forward.”

Richard Zarzeczny, President of Canadian Enerdata, added: “The launch of the NFX CCI Futures contracts is a significant step forward for the Canadian crude oil industry. They offer market participants with extremely competitive risk management alternatives based on credible, independent, real time price benchmarks representing a significant portion of the Canadian crude oil market.”

Perry Undseth, President of One Exchange, commented: “One Exchange is excited to work with Nasdaq in delivering a new suite of products to the Canadian oil market.  For some time, our clients have been asking for a solution to the fragmented benchmark for Canadian crude oil contracts.  The CCI framework/methodology has addressed industry concerns by delivering a single benchmark through an independent publisher (Canadian Enerdata) who delivers the data in real-time.  The launch of the NFX CCI financial contracts now allows eligible market participants to effectively hedge physical exposure against a single consolidated benchmark that is comprised of more than a single source of data.”

 

For further information, please contact:

Press enquiries

Perry Undseth

One Exchange

+1 403-215-5507 | PUndseth@oneexchangecorp.com

 

Richard Zarzeczny

Canadian Enerdata

+1 905-642-8167 | richardz@enerdata.com

 

Alastair Crabbe

Marex Spectron

+ 44 (0) 20 7650 4104 | acrabbe@marexspectron.com

 

Joe Christinat

Nasdaq, Inc.

+1 646-441-5121

 

 

Index/ Broking enquiries

Tarun Ajwani

Marex Spectron

+1 587-393-5619 | tajwani@marexspectron.com

 

Perry Undseth

One Exchange

+1 403-215-5507 | PUndseth@oneexchangecorp.com

 

Richard Zarzeczny

Canadian Enerdata

+1 905-642-8167 | richardz@enerdata.com

 

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