Nodal Exchange, North America’s largest power futures exchange and a subsidiary of Deutsche Boerse Group’s EEX Group, has announced a $300,000 investment to expand its operations in the Tysons area of Fairfax County, Virginia. The expansion will result in the creation of 33 new jobs.
“We’re excited to continue growing in Fairfax County, a location that offers easy access to a highly educated workforce and proximity to our regulators in Washington, D.C.,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “Fairfax County’s central position is ideal for attracting the talented team necessary to support the operations of Nodal Exchange and Nodal Clear.”
Nodal Exchange offers risk management solutions through the world’s largest sets of environmental and electric power futures and options contracts. All transactions are cleared through its subsidiary, Nodal Clear, which employs an award-winning portfolio margining methodology.
Fairfax County Board of Supervisors Chairman Jeffrey C. McKay praised the expansion, noting, “Congratulations to Nodal Exchange on your continued success. Your groundbreaking work in energy and financial markets contributes to the innovation and economic growth that defines our community.”
Nodal Exchange has developed much of its trading and clearing technology in-house, underscoring its commitment to technological innovation. As part of the EEX Group, the company is a key player in a global network of energy and commodity markets.
“We are proud to celebrate Nodal Exchange’s second expansion in Fairfax County in just three years,” said Victor Hoskins, president and CEO of the Fairfax County Economic Development Authority (FCEDA). “Their growth highlights the strength of Fairfax County as a hub for business excellence and innovation.”
The Virginia Economic Development Partnership, in collaboration with the FCEDA, played a key role in securing the expansion. Support for Nodal Exchange’s recruitment and employee training will be provided through the Virginia Jobs Investment Program (VJIP).
Governor Glenn Youngkin also highlighted the importance of the expansion, stating, “Nodal Exchange’s growth in Fairfax County reinforces Virginia’s standing as a premier location for businesses at the intersection of finance and technology.”
