Derivatives exchange leader will invest $300,000 and create 33 new jobs

RICHMOND, VA – Governor Glenn Youngkin on Feb 19th, announced that Nodal Exchange, LLC, North America's largest power futures exchange and a subsidiary of the Deutsche Boerse Group's EEX Group, will invest $300,000 to expand its operations in Fairfax County. The company will create 33 new jobs. 

"Nodal?Exchange's expansion in Fairfax County demonstrates Virginia's ability to attract and retain global financial technology leaders," said Governor Glenn Youngkin. "As North America's largest power futures exchange, Nodal Exchange showcases how international firms can thrive in the Commonwealth while developing innovative solutions for the world's energy markets. This expansion reinforces Virginia's position as a premier location for businesses at the intersection of finance and technology."

"The growth of?Nodal?Exchange?highlights Virginia's role as a hub for innovative financial markets technology," said Secretary of Commerce and Trade Caren Merrick. "Their decision to expand in Fairfax County, where they've built industry-leading trading and clearing platforms, reflects the Commonwealth's deep technology talent pool and strategic advantages for global financial firms. We look forward to supporting their continued innovation in environmental and energy trading markets." 

Nodal Exchange provides price, credit, and liquidity risk management solutions through the world's largest sets of environmental and electric power futures and options contracts. All transactions are cleared through its wholly owned subsidiary, Nodal Clear, which employs an award-winning portfolio margining methodology. The company has developed most of its trading and clearing platforms in-house, demonstrating its commitment to technological innovation. As part of the Deutsche Boerse Group's EEX Group, Nodal Exchange contributes to a global network of energy and commodity markets. 

“Fairfax County is an ideal location for attracting and retaining the highly educated and diverse team necessary for operating Nodal Exchange and Nodal Clear, and we are thrilled to be able to continue to grow and further expand here,” said Nodal Exchange and Nodal Clear Chairman and CEO Paul Cusenza. “It is also centrally located for our trading and clearing community and in close proximity to our regulators in Washington, D.C.” 

"I am excited that Fairfax County will remain a leader in innovation and economic growth through the expansion of?Nodal?Exchange,” said Senator Azlan Salim. “This investment will strengthen our local economy and encourage new job creation within the region. We are delighted to welcome?Nodal Exchange’s expanded operations and look forward to their continued success."

“Congratulations to Nodal Exchange on your expansion and thank you for being a vital part of Fairfax County’s dynamic and innovative business community,”?said Fairfax County Board of Supervisors Chairman Jeffrey C. McKay.?“Your groundbreaking work in energy and financial markets showcases the excellence that define our community and inspire economic growth.” 

The Virginia Economic Development Partnership worked with the Fairfax County?Economic Development Authority?to secure the project for Virginia. Funding and services to support the company's employee recruitment and training activities will be provided through the Virginia Jobs Investment Program. 

Nodal Exchange will expand its operations at 1921 Gallows Road, Vienna, VA 22182.