Paul Cusenza to Retire as CEO of Nodal Exchange; Demetri Karousos Named Successor

Nodal Exchange announced that Paul Cusenza will retire as CEO on March 15, 2027, after more than 19 years leading the company. Demetri Karousos, currently CEO of Nodal Clear and President & COO of Nodal Exchange, will succeed Cusenza as CEO of Nodal Exchange on March 16, 2027. Cusenza will remain Chair of the Boards of both Nodal Exchange and Nodal Clear.

Karousos joined Nodal Exchange in January 2008 and has been President & COO since March 1, 2022, overseeing operations, technology, and commercial relationships. He has also been CEO of Nodal Clear since May 1, 2026, and previously served as President and Chief Risk Officer at Nodal Clear. Before joining Nodal Exchange, Karousos began his career at Cambridge Energy Research Associates and later joined Williams Energy Marketing & Trading’s origination team for the international natural gas market. He has held various roles in industry and management consulting. He holds a B.A. in Economics from Harvard University.

Cusenza said he was grateful to have been part of the Nodal team and community, and thanked those who supported Nodal over the years. He noted that growing the company from a startup into a leading exchange and clearing house was only possible with the support of trading participants, clearing members, brokers, settlement banks, technology and information providers, and the dedicated Nodal team. He also thanked the team at EEX Group for their support since acquiring Nodal in 2017, and said he looks forward to supporting Karousos and the Nodal team through his Board roles in retirement.

Karousos said he was honored to lead Nodal Exchange at a dynamic time in the derivatives industry and looked forward to working with the Nodal team to drive innovation and meet the evolving needs of the markets they serve, building on the foundation Cusenza established.