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Nodal Exchange Expands Tysons, Virginia, Operations

Nodal Exchange, a derivatives exchange providing price, credit, and liquidity risk management solutions to participants in the North American commodities markets, will expand operations in Fairfax County, Virginia. The $300,000 project is expected to create 37 jobs.

The company will increase capacity at its headquarters located at 1921 Gallows Road in Tysons Corner.

"Nodal Exchange was founded in Fairfax County, which we believe is an ideal location for attracting and retaining an outstanding professional team necessary for operating a derivatives exchange and clearing house, and we are thrilled to be able to continue to grow and further expand here. It is a wonderful location with a highly educated and diverse workforce," said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. "It is also centrally located for our trading and clearing community and in close proximity to our regulators in Washington, D.C."

Virginia Economic Development Partnership (VEDP) will support Nodal Exchange's job creation through the Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies.

Founded in 2007, Nodal Exchange is a derivatives exchange and a leader in innovation, having introduced the world's largest set of electric power locational (nodal) futures contracts and the world's largest set of environmental contracts.

“The Commonwealth breeds innovation and we are committed to fostering an environment that encourages the success of entrepreneurs like Nodal Exchange, which has grown from a startup to a thriving Virginia business in 15 years,” added Secretary of Commerce and Trade Caren Merrick. “The advantages of a Fairfax County location attract and retain leading firms, and a renowned workforce remains one of its greatest assets. We thank Nodal Exchange for its commitment to the Commonwealth and look forward to a continued partnership.”

As part of EEX Group, a group of companies serving international commodity markets, Nodal Exchange currently offers over 1,000 power contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. The majority of U.S. power futures open interest is on Nodal Exchange with 1.210 billion MWh representing $180 Billion of notional value based on both sides as of the end of May 2022.

"We are honored to have Nodal Exchange continue to call Fairfax County home," noted Victor Hoskins, President and CEO of Fairfax County Economic Development Authority (FCEDA). "Companies like Nodal Exchange expanding their operations here not only speak to our strong innovation ecosystem but also the unparalleled access to top talent we provide."

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