FEX Global

What FEX Global does

FEX Global (legally The Financial & Energy Exchange Ltd, ABN 20 122 086 284) is an Australian licensed futures exchange operating under an Australian Market Licence pursuant to section 795B of the Corporations Act 2001. The exchange offers derivative contracts across energy, commodity, and environmental markets — including power futures and options (peak load, base load, cap, and four-quarter strip), Australian domestic gas monthly futures, Mysteel (SEADEX) 62 iron ore futures, and Large-Scale Generation Certificate (LGC) environmental futures — to leading commodity and energy producers and consumers seeking to manage price risk associated with market volatility. The company is headquartered in the Sydney CBD at 7-11 Bridge Street and operates through related bodies corporate FEX Global Pty Limited and Mercari Pty Limited.

The exchange is built on Nasdaq matching engine technology licensed under a core partnership, providing enterprise-grade order matching capabilities. It supports standard order types alongside a Tailored Strategy Market (TSM) portal for non-standard multi-legged strategies, as well as off-market facilities for Block Trades and Exchange for Physicals (EFPs). Market access is distributed globally through accredited Independent Software Vendors (Trading Technologies, CQG, Energy One) and direct bespoke applications, with connectivity via FIX Gateway and native APIs. Market data is distributed both directly and through Refinitiv and Bloomberg terminals.

Revenue is generated primarily through transaction fees on traded futures and options contracts, applied under a published fee schedule negotiated with institutional Trading Participants. The customer base is institutional B2B, segmented horizontally across commodity and energy market participants. As of March 2026, trading has been halted across all FEX Global contract markets pending the establishment of new clearing and settlement arrangements (Notice 2026_001), and three earlier commodity contracts (ESPO Asia Crude, API5 Newcastle Coal, JCC Asia Crude) had been suspended. The company is also publicly pursuing Australia's first regulated prediction market in partnership with former Liberal MP Jason Falinski.

Name

FEX Global

Legal name

The Financial & Energy Exchange Ltd

Website

https://fexglobal.com.au

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

FEX Global is an Australian licensed futures exchange operating under an Australian Market Licence (s795B) that offers energy, commodity, and environmental derivative contracts to institutional producers and consumers for price risk management, powered by Nasdaq matching engine technology. Trading is currently halted pending new clearing arrangements.

Ownership category

akta.pro rank

Product category

Futures Exchange (Energy, Commodity and Environmental Derivatives)

NAICS

Securities and Commodity Exchanges (52321), Commodity Contracts Intermediation (52316)

SIC

Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Energy Commodities Exchanges (Crude Oil, Refined Products, Natural Gas, Power) (FSAFAMAC)

Keywords

• Futures exchange services
• Energy derivatives trading
• Commodity derivatives market
• Environmental derivatives exchange
• Regulated futures market

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D

Revenue model

1. Futures and Derivatives Trading Fees: FEX Global operates a regulated futures market for energy, commodity and environmental derivative products. Revenue is generated through trading fees from futures contracts and options traded on the exchange.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

FEX Global operates a regulated Australian futures exchange offering energy, commodity, and environmental derivative contracts to institutional market participants. Core products include power futures and options (peak load, base load, cap power), iron ore futures, Australian gas monthly futures, and Large-Scale Generation Certificate (LGC) environmental futures. The exchange runs on Nasdaq matching engine technology and provides market access through accredited Independent Software Vendors (ISVs) via FIX and native API connectivity, with off-market facilities for block trades and Exchange for Physicals (EFPs).

Product overview

FEX Global operates as a regulated Australian futures exchange offering a portfolio of energy, commodity, and environmental derivative products. The exchange is powered by Nasdaq matching engine technology and provides market access through accredited Independent Software Vendors (ISVs) via FIX and native API connectivity. Core products include power futures and options (peak load, base load, and cap power across quarterly and strip tenors), iron ore futures (Mysteel SEADEX 62), Australian gas monthly futures, and LGC environmental futures. The platform supports standard order types, a Tailored Strategy Market (TSM) portal for non-standard strategies, and off-market facilities for block trades and Exchange for Physicals (EFPs).

Differentiator

Problem solved

Functional benefit

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• MysteelcoreStrategic or Co-development Partner · 15 October 2021Price Assessment Partnership announced October 2021. FEX Global launched Mysteel Iron Ore Futures in August 2023, offering Mysteel (SEADEX) 62 Iron Ore (AUD) Futures products.
• NasdaqcoreTechnology or IntegrationFEX Global utilises Nasdaq matching engine technology to provide customers and members with enhanced capabilities to facilitate demanding and complex trading requirements.
• Jason Falinski (Former Liberal MP)coreStrategic or Co-development PartnerFEX Global and former Liberal MP Jason Falinski are pushing to establish Australia's first regulated prediction market, arguing that current geo-blocking bans on Polymarket are ineffective.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• CME Group: CME Group is the world's largest derivatives exchange operator, listing benchmark energy, metals, and agricultural futures. Comparable as a broad incumbent competing for global energy and commodity derivatives flow against which FEX must position its Australian-niche products.
• ASX (Australian Securities Exchange): ASX operates ASX 24 (formerly the Sydney Futures Exchange), the dominant Australian derivatives venue with broader product coverage. Comparable because it competes for the same Australian institutional client base in futures and options trading.

Direct peers

• European Energy Exchange (EEX): EEX is Europe's leading energy and commodity exchange, listing power, natural gas, emissions, and agricultural futures. FEX Global mirrors EEX's product focus (power, gas, environmental certificates) and operates the same exchange-license-plus-Nasdaq-style technology stack business model.
• Nasdaq Commodities: Nasdaq Commodities operates Nordic and European power and electricity certificate markets. Notably, FEX Global licenses Nasdaq's matching engine, making Nasdaq Commodities both a technology supplier and a direct operating peer in the European/Nordic energy derivatives space.
• Nodal Exchange: Nodal Exchange is a US-licensed exchange specialising in environmental and power futures contracts. Highly comparable to FEX Global's LGC and NEM-power futures focus as a niche, licensed venue for environmental and energy derivatives.
• London Metal Exchange (LME): LME is the world's premier industrial metals futures exchange. Comparable to FEX Global's iron ore (Mysteel SEADEX 62) futures contract as a venue enabling metals and commodity price-risk management for institutional participants.
• ICE Endex (Intercontinental Exchange): ICE Endex operates regulated European futures markets for energy and emissions derivatives, including power, natural gas, and EU Emissions Allowances. Directly comparable to FEX Global because both run licensed exchanges offering energy and environmental futures with similar institutional clearing and ISV distribution models.

Regional players

• Singapore Exchange (SGX): SGX operates Asia-Pacific listed derivatives including energy and commodity futures. Comparable as a regional Asian exchange competing for institutional flow on contracts tied to Asian energy and commodity benchmarks.
• Tokyo Commodity Exchange (TOCOM / JPX): TOCOM (now part of JPX) operates Asian commodity derivatives including energy and metals futures. Comparable as another regional Asian commodity futures venue, particularly relevant for iron-ore and energy contracts that intersect with FEX Global's product mix.
• Dubai Mercantile Exchange (DME): DME is the Middle East's leading energy futures exchange, listing the flagship Oman crude oil contract. Comparable to FEX Global as a regional energy-focused futures exchange that has faced similar liquidity-building challenges for niche crude products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/fex_global
• LinkedInau.linkedin.com/company/fex-global

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FEX Global