News

Community Event – Get More Out of Nodal

Last week BroadPeak held a community event in Houston in collaboration with the Nodal Exchange. It was the third and final in our series of fall events with the exchanges. People from all areas of trading including technology, operations, compliance, risk, etc, gathered to discuss how to get more out of their Nodal trade feed.

Officially, that feed is called the Nodal Exchange FIX Gateway.

Much like prior events, we talked about all sorts of issues that prevent us all from getting home at the end of the day.  For some folks, Nodal is a newer exchange so there was a focus on how Nodal is making progressing against the incumbents.

We were proud to have our friend Danny Gomez presenting insights around Nodal to the community.

 

The current data supply chain is simpler with with Nodal primarily being a block trade driven market.  Despite this, they have done a great job of streamlining data to end user by working with brokers and FCMs to ensure the end trading firm is known at the time of execution.   This alleviates much of the burden firms face when trading in brokered markets on some of the other exchanges.

So when you execute via your broker, the trade will flow to you automatically.  No issues.

We then talked about the upcoming screen based trading for Nodal which makes their data supply chain look a more familiar.  Screen based trading will be offered via Trayport, TT, and CQG to start.

Other tidbits…

  • All trades sent consistently.  Listed, Blocks, and Broker Executed ALL come out looking the same but can be distinguished.
  • Both Exchange and Clearinghouse events are sent.
  • You can request history for any specific day.

In case you missed our other events, here are details about ICE and the CME.

If you would like further info on any of the exchange feeds or from our events please contact Ryan from our Houston team: rec@broadpeakpartners.com.