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May 11, 2023

VIA PORTAL

Commodity Futures Trading Commission

Attention: Christopher Kirkpatrick, Secretary

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: CFTC Regulation 40.6(a) Certification: Submission of Amendments to the 

Nodal Exchange Broker Agreement

Dear Mr. Kirkpatrick:

Nodal Exchange, LLC (“Nodal Exchange” or “Exchange”) is notifying the Commodity Futures 

Trading Commission (“CFTC” or “Commission”) that it is self-certifying amendments to the 

Nodal Exchange Broker Agreement (“Agreement”) pursuant to Commission Regulation 

40.6(a). The amended Agreement is attached hereto and indicates the specific text in red 

that is being amended. The Exchange intends to implement the amended Agreement in ten 

business days.

Nodal Exchange is updating the Nodal Exchange Broker Agreement to allow an Authorized 

Broker to submit an EFRP; define “Routine Request”, and to clarify provisions in Section 5, 

Section 6, Section 7, and Section 14.3. Furthermore, the Exchange has added Section 14.4 

Uniform Agreement; Amendments to the Broker Agreement to clarify the rights of the 

Exchange and Authorized Brokers with regards to future amendments to the Agreement.

The Broker Agreement will be posted on the Nodal website and available to the general 

public.

Exchange management has assessed the amendments to the Agreement and their 

compliance with applicable provisions of the Act, including the Commissions Regulations 

and the Core Principles. Nodal Exchange has identified that the amendments may affect the 

following Core Principles as follows:

Core Principle 2 - Compliance with the Rules: The amendments to the Agreement provide 

clarity and consistency with the Act for compliance with the Rules. The Agreement is

applicable to all Nodal Exchange Brokers.

Core Principle 4 - Prevention of Market Disruption: All activity performed on Nodal is subject 

to the Nodal Exchange Rulebook Section VI, which prohibits disruptive trading behavior and 
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manipulation, subject to monitoring and surveillance by the Exchange’s Division of Market 

Surveillance.

Core Principle 7 – Availability of General Information: The amendments to the Agreement 

provide clarity to Exchange Brokers. The amended Agreement is available to market 

authorities, Participants, Authorized Brokers and the public on the Exchange website.

Core Principle 12 - Protection of Markets and Market Participants: Section VI of the Nodal 

Exchange Rulebook protects the market and market participants from abusive, disruptive, 

fraudulent, noncompetitive and unfair conduct and trade practices. 

Core Principle 13 - Disciplinary Procedures: Section VII of the Nodal Exchange Rulebook 

describes the disciplinary procedures of the Exchange that authorize the Exchange to 

discipline, suspend, or expel anyone on the Exchange that violates these rules. 

Pursuant to Section 5c(c) of the Act and the Commission’s Regulation 40.6, the Exchange 

certifies that amended Rules comply with the Act and the Commission’s Regulations 

thereunder. There have not been any opposing views expressed regarding the amendments 

to the Rules.

Nodal Exchange certifies that this submission has been concurrently posted on the Nodal 

Exchange website at www.nodalexchange.com.

If you have any question or need additional information regarding this submission, please 

contact me at 703-962-9853 or Markotic@nodalexchange.com.

Sincerely,

/s/ Max Markotic

Managing Director 

Attachment:

Redline of Nodal Exchange Broker Agreement