Briarcliff Manor, NY-based Optionable Inc., which provides natural gas and other energy derivatives brokerage services, announced Friday that it had a record month in the number of contracts traded for its clients.

For the month of September, Optionable reportedly traded 1,195,582 over-the-counter (OTC) options and swaps either through the Nymex ClearPort clearing platform or bilateral trading.

“We continued to see strong growth in trading and a very orderly market during a period of high price volatility,” said Optionable CEO Kevin Cassidy. “Through the combined use of our voice brokerage system and putting trades through our new electronic trading platform, OPEX, we were able to help our institutional clients quickly and efficiently complete their trades. We are very excited by the record number of contracts traded, which gave us average daily commissions fees of more than $54,200 during September.”

In July, Optionable announced that it began trading on its OPEX platform, which is a real-time electronic trade matching and brokerage system that has been certified to connect with the Nymex ClearPort clearing platform (see Daily GPI, July 19).

The company said OPEX is designed to improve liquidity and transparency in the energy derivatives market as a first-of-its-kind, real-time electronic trade matching and brokerage system featuring trading strategies used by professional options traders. OPEX is configured to trade dozens of option trading strategies employed in the market, offering information such as the size of the best bid and ask price, and can be customized by the trader to create individualized strategies.

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