RICHMOND, VA - Governor Glenn Youngkin today announced that Nodal Exchange, a Fairfax-based derivatives exchange providing price, credit, and liquidity risk management solutions to participants in the North American commodities markets, will invest $300,000 to expand in Fairfax County. The company will increase capacity at its headquarters located at 1921 Gallows Road in Tysons Corner. The project will create 37 new jobs.

“Nodal Exchange offers the largest suite of power and environmental contracts in the world, and we are proud that this Virginia-grown business manages risk in such a critical market, resulting in impressive growth at its headquarters in Fairfax County,” said Governor Youngkin. “Northern Virginia boasts a deep bench of talent to support a range of industries, and we are pleased to see another corporate partner expand and create 37 high-quality jobs.”
“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,” said 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.”

“Nodal Exchange was founded in Fairfax County, Virginia, 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,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “It is a wonderful location with a highly educated and diverse workforce. It is also centrally located for our trading and clearing community and in close proximity to our regulators in Washington, D.C.”

“In Fairfax County, we are forward-thinking and constantly working towards next-generation advancements. Nodal Exchange is a great example of that, using their platform to create an efficient market for energy trading, especially clean energy,” said Jeffrey C. McKay, Chairman of the Fairfax County Board of Supervisors. “We are excited about Nodal Exchange’s growth and expansion in Tysons, further demonstrating that Fairfax County continues its national leadership as an innovation hub.”

“Congratulations to Nodal Exchange,” said Senator Janet Howell. “Fairfax County continues to be the home for leaders in innovation, like Nodal Exchange, and is a breeding ground of exceptional talent that drives our region's growth, whether it's in information technology, defense and aerospace, or environmental products. I look forward to seeing what's ahead for Nodal Exchange and wish them much success.” 
Founded in 2007 and headquartered in Fairfax County, 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. 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. In addition, Nodal Exchange offers natural gas and environmental contracts. All Nodal Exchange contracts are cleared by Nodal Clear, which is a CFTC (Commodity Futures Trading Commission) registered derivatives clearing organization and a wholly-owned subsidiary of Nodal Exchange. Nodal Exchange is a designated contract market regulated by the CFTC.
The Virginia Economic Development Partnership worked with the Fairfax County Economic Development Authority to secure the project for Virginia and 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. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for citizens.

Press Contact(s)

Suzanne Clark 804.545.5806
Macaulay Porter
Office of the Governor
Nicole Ricard Nodal Exchange
ricard [at]