ElectronX
About ElectronX
ElectronX is a CFTC-regulated financial exchange that offers derivatives products designed to manage electricity price risk and volatility in a market increasingly reliant on intermittent renewable energy sources. By providing small-sized, short-duration contracts for intraday trading, ElectronX enables energy market participants to hedge against price spikes and optimize their financial strategies amid rising electricity demand.
<problem> Electricity markets are experiencing increased price volatility due to the growing reliance on intermittent renewable energy sources, rising electricity demand from data centers and electrification, and the decommissioning of traditional power plants. These volatile pricing swings, especially during extreme weather, create financial risks for energy market participants. Existing risk management tools often lack the granularity to address short-term, intraday price fluctuations. </problem> <solution> ElectronX is a CFTC-regulated financial exchange that offers derivatives products designed to manage electricity price risk and volatility. The exchange provides small-sized, short-duration contracts, including call spreads and binary options for hourly periods, enabling energy market participants to hedge against price spikes and optimize their financial strategies. ElectronX's market is designed to be accessible to a wide range of users, offering a bespoke API and GUI for participation without brokers or high capital requirements. The centrally-cleared market structure minimizes counterparty risk and ensures seamless near real-time settlement with fully collateralized contracts. </solution> <features> - Small-sized contracts denominated in single megawatt-hours over hourly periods across multiple locations - Intraday trading of call spreads and binary options - Bespoke API and GUI for direct market access - Centrally-cleared market structure to minimize counterparty risk - Seamless near real-time settlement with fully collateralized contracts </features> <target_audience> ElectronX targets energy generation pioneers (wind and solar developers), high-volume energy consumers (data centers, bitcoin miners), energy storage innovators (battery producers), and asset hedgers/market speculators (hedge funds, power market traders). </target_audience>
What does ElectronX do?
ElectronX is a CFTC-regulated financial exchange that offers derivatives products designed to manage electricity price risk and volatility in a market increasingly reliant on intermittent renewable energy sources. By providing small-sized, short-duration contracts for intraday trading, ElectronX enables energy market participants to hedge against price spikes and optimize their financial strategies amid rising electricity demand.
Where is ElectronX located?
ElectronX is based in East New York, United States.
When was ElectronX founded?
ElectronX was founded in 2022.
How much funding has ElectronX raised?
ElectronX has raised 18200000.
Who founded ElectronX?
ElectronX was founded by Sam Tegel and Philip Krim.
- Sam Tegel - CEO
- Philip Krim - Founder/Operator/Investor
- Location
- East New York, United States
- Founded
- 2022
- Funding
- 18200000
- Employees
- 22 employees
- Major Investors
- Innovation Endeavors