# ElectronX

> ElectronX is a U.S.-regulated electricity derivatives exchange building the financial infrastructure for the energy transition. Founded in 2024 and based in Chicago with a New York office, it offers direct-access, centrally cleared hourly power futures and binary options that let utilities, traders, renewable operators, energy-storage firms and data-center operators hedge the extreme short-term price swings that come with a grid increasingly powered by intermittent wind and solar. ElectronX holds CFTC approvals as both a Designated Contract Market and a Designated Clearing Organization, and has raised more than $55 million from investors including DCVC, Innovation Endeavors, and the venture arms of Shell and Equinor.

- **Founded:** 2024
- **Headquarters:** Chicago, United States
- **Founders:** Sam Tegel (CEO), Evan Caron (Co-founder & Board Member), Philip Krim (Co-founder & Chairman)
- **Team size:** ~42 employees
- **Products:** Hourly bounded power futures, Binary options on power prices, Day-of and day-ahead contract suites, Direct-access trading platform, Central clearing
- **Notable:** Granted both CFTC Designated Contract Market and Designated Clearing Organization status in August 2025., Raised more than $55 million across seed, strategic, and Series A rounds within roughly 18 months of founding., Attracted strategic energy investors (Shell, Equinor) and top quantitative trading firms (XTX, Five Rings, GTS).

## Products & services

- **Hourly bounded power futures** — Standardized 1 MWh hourly electricity futures contracts that let participants hedge price exposure at granular, hour-by-hour resolution.
- **Binary options on power prices** — Fully collateralized binary options that pay out based on whether electricity prices cross defined thresholds, useful for hedging volatility spikes.
- **Day-of and day-ahead contract suites** — Contract families covering both same-day and next-day delivery windows across supported power markets.
- **Direct-access trading platform** — A web- and API-based exchange giving market participants direct, intermediary-free access to list, trade, and clear power derivatives.
- **Central clearing** — As a CFTC Designated Clearing Organization, ElectronX centrally clears trades on fully collateralized terms, reducing counterparty risk.

## Achievements

- Granted both CFTC Designated Contract Market and Designated Clearing Organization status in August 2025.
- Raised more than $55 million across seed, strategic, and Series A rounds within roughly 18 months of founding.
- Attracted strategic energy investors (Shell, Equinor) and top quantitative trading firms (XTX, Five Rings, GTS).
- Named former CFTC Chairman J. Christopher Giancarlo as strategic adviser.
- Launched live trading in the ERCOT (Texas) market.

## Latest updates

- **2025-11** — Closed a $30M Series A led by DCVC, with XTX Markets, Five Rings, GTS, NGP and JACS Capital, bringing total funding past $55M.
- **2025-08** — Earned CFTC Designated Contract Market and Designated Clearing Organization approvals.
- **2025-02** — Raised a $10M strategic round; former CFTC Chairman J. Christopher Giancarlo named strategic adviser.
- **2024-06** — Emerged with a $15M seed round led by Innovation Endeavors.

## Links

- Website: https://www.electronx.com
- LinkedIn: https://www.linkedin.com/company/trade-electronx
- Twitter/X: https://twitter.com/trade_electronx

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Profile page: https://yespress.io/electronx
Published by YesPress — https://yespress.io
Last updated: 2026-06-15