Derivatives exchange to add 33 jobs in Fairfax

Nodal Exchange, a derivatives exchange, will invest $300,000 to expand its Fairfax County operations, adding 33 jobs, Gov. Glenn Youngkin announced Wednesday.

“Nodal Exchange’s expansion in Fairfax County demonstrates Virginia’s ability to attract and retain global financial technology leaders,” Youngkin stated in a news release. “As North America’s largest power futures exchange, Nodal Exchange showcases how international firms can thrive in the Commonwealth while developing innovative solutions for the world’s energy markets.”

Founded in 2007, Nodal Exchange is part of the EEX Group, a network of companies serving international commodity markets. Its Fairfax County office is at 1921 Gallows Road in Tysons.

Nodal Exchange provides price, credit and liquidity risk management solutions through sets of environmental and electric power futures and options contracts. The majority of U.S. power futures open interest is on Nodal Exchange with 1.43 billion megawatt-hours, representing 57% market share as of January 2025

Its subsidiary Nodal Clear, which serves as an intermediary between buyers and sellers, clears all transactions. The company has 145 employees, according to a spokesperson.

“Fairfax County is an ideal location for attracting and retaining the highly educated and diverse team necessary for operating Nodal Exchange and Nodal Clear, and we are thrilled to be able to continue to grow and further expand here,” Paul Cusenza, CEO and chairman of Nodal Exchange and Nodal Clear, said in a statement.

In 2022, Gov. Youngkin announced an earlier $300,000 expansion by Nodal Exchange.

The Virginia Economic Development Partnership worked with the Fairfax County Economic Development Authority to secure the project for Virginia. VEDP will support Nodal Exchange through the Virginia Talent Accelerator Program. Created by VEDP in collaboration with the Virginia Community College System, the program provides free, customizable workforce recruitment and training services to qualified new and expanding companies.