NEW YORK, March 16, 2016 (GLOBE NEWSWIRE) -- Nasdaq announced today that Straits Financial is now an approved Futures Commission Merchants (FCM) for trading on Nasdaq’s U.S.-based designated contract market (DCM), which offers futures and options on key energy benchmarks, including oil, natural gas and U.S. power.
Straits Financial, together with other subsidiaries under Straits Financial Group ("SF Group"), is a global commodity firm with international affiliate offices and partnerships delivering a wide range of financial services, including brokerage of exchange-traded and OTC products, as well as trade facilitation and logistics for physical commodities. SF Group is the brokering division of CWT Limited, one of the largest publicly-listed logistics companies in South East Asia.
“Straits Financial can now provide an even greater range of energy derivative products to meet the investment and hedging needs of our clients in the U.S. and those in Asia through our Straits Group affiliates,” said Joseph Mazurek, President of Straits Financial LLC. “This opens up opportunities for Straits Financial to serve this marketplace and take our business to new levels. It is an excellent new development for Straits Financial.”
Nasdaq Futures has traded more than seven million contracts since the launch in July 2015, and the open interest has grown to 700,000 contracts, demonstrating strong customer support. Nasdaq Futures reached a daily record of 125,730 contracts on February 25, and a record monthly volume of 1.5 million contracts registered during February.
"The addition of Straits Financial emphasizes the continued strong interest from a wide variety of market participants, including Straits Financial’s broad customer base, from all regions around the globe,” said Magnus Haglind, Vice President of Global Trading and Market Services and CEO of Nasdaq Futures. “We are pleased to welcome Straits Financial to our platform and look forward to continuing our partnership in the years to come.”
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About Straits Financial Group:
Headquartered in Singapore, Straits Financial Group (“Straits”) is the brokering division of CWT that offers a full spectrum of derivatives & OTC products, including trade facilitation for physical commodities. We have established affiliate offices in Chicago, New Jersey, Shanghai and in Jakarta. The U.S. subsidiary, Straits Financial LLC, is a full Clearing Member of the Chicago Mercantile Exchange (CME), Chicago Board of Trade (CBOT), New York Mercantile Exchange (NYMEX), the Commodity Exchange (COMEX), the CME Clearport, Dubai Mercantile Exchange (DME), and New Zealand Exchange (NZX), as well as FCM Partner of the Nasdaq Futures Exchange (NFX). Straits’ clearing access to all major global commodity exchanges combined with the logistical and warehousing support from CWT is able to deliver a unique blend of integrated services to fulfill the needs of sophisticated customers trading in the commodities space. In our opinion, our distinctiveness has kept Straits ahead of market competition and continues to be our key success factor. For more information, visit www.straitsfinancial.com and www.straitsffm.com.
CWT is a leading provider of integrated logistics and supply chain solutions. Our business is about connecting world trade. We move, build and power customers’ supply chain forward. We combine our logistics capabilities, global network and resources to add value for customers. CWT Group also provides commodity marketing, financial and engineering services ancillary to its core logistics business. For more information, visit www.cwtlimited.com.
Nasdaq Media Contacts Joe Christinat +1 (646) 441-5121 (office) +1 (646) 284-5920 (mobile) Joseph.Christinat@nasdaq.com Straits Media Contact: Christopher Castillo (312) 846-5653 email@example.com