NCFX Embeds FX Benchmarks into Energy Futures

New Change FX (NCFX) has announced a collaboration with the European Energy Exchange (EEX) to embed its spot and forward EUR/USD benchmarks into the exchange’s new TTF Natural Gas Month futures.

Under the agreement, which commenced April 15, NCFX will provide a daily fixing service for spot and outright rates in EUR/USD, the outrights tailored to each monthly settlement out to six years. This will support EEX’ efforts to price the underlying TTF Front Month Index as well as end-of-day settlement prices for the new contract.

“This partnership with EEX underscores the universal applicability of high-quality FX benchmark data in addressing challenges across diverse asset classes,” says Paul Lambert, CEO of NCFX. “We are proud to pioneer solutions that transcend boundaries and enhance trading efficiency.”

Steffen Koehler, COO of EEX, adds, “The LNG markets have grown in importance during recent years, which we also acknowledge by the introduction of our new products for this market. As a forward-looking exchange, it is important for us to provide the most accurate price guidance for our trading participants and thus we welcome innovative services, such as the new currency benchmarking solution by New Change FX.”