"We are pleased to have filed our formal application with the CFTC and we look forward to working closely with them as we seek approval for designation as a contract market," said Mark Yegge, Chairman of the NFE. "The NFEâs fully-electronic trading platform will offer traditional market contracts as well as unique new products, including expirationless options, which are patented and will be exclusively available through the NFE. We believe that expirationless
options represent a dynamic new product class that has the potential to revolutionize derivative trading. The NFE will also provide exchange members with a superior pricing model that we believe will substantially reduce the overall cost of executing futures trades when compared to the other existing futures exchange platforms."
The NFE is a wholly owned subsidiary of NexTrade Holdings, Inc. The NFE's proven electronic trading system is robust, fully scalable and will offer NFE members the highest levels of reliability, security and confidentiality. Buyers and sellers will be matched directly based on a strict price-time order placement priority in an anonymous trading environment. Full order book
price discovery will be instantaneous allowing all members to trade on an equal basis.