Watch Now

First trade executed within 20 minutes of Trucking Freight Futures launch

IMAGE: FreightWaves’ Jonathan Smith

FreightWaves, in partnership with Nodal Exchange and DAT, launched the world’s first financially settled Trucking Freight Futures contracts at 9 a.m. Friday, March 29. The first trade came through within 20 minutes of opening, at 9:18 a.m.

The first trade executed was on the U.S. National van lane for April 2019. The trade was executed at $1.340, according to FreightWaves Vice President of Futures Markets Tom Mallon.

The current DAT spot rate national average (DATVF.VNU) is at $1.32, so the futures trade implies that the market believes spot prices will remain stable and edge up slightly next month.

“This is a historic day,” Mallon said. “The first ever Trucking Freight Futures trade shows that there is a market and a need for this.”

Seven origin/destination lane contracts launched, along with four regional or national average contracts. Trucking Freight Futures will be settled against DAT dry van spot rates.

Origin/Destination Lanes:
Los Angeles to Seattle
Seattle to Los Angeles
Los Angeles to Dallas
Dallas to Los Angeles
Chicago to Atlanta
Atlanta to Philadelphia
Philadelphia to Chicago

Regional/National Averages:
West U.S. (Los Angeles to Seattle Van and Seattle to Los Angeles)
South U.S. (Los Angeles to Dallas and Dallas to Los Angeles)
East U.S. (Chicago to Atlanta and Atlanta to Philadelphia and Philadelphia to Chicago)
National U.S. (West U.S. and South U.S. and East U.S.)

FreightWaves Chief Market Strategist Donald Broughton compared the first Trucking Freight Futures trade to FedEx’s first day of operation.

On April 17. 1973, FedEx Founder and CEO Fred Smith and his 389 team members used 14 planes to deliver 186 packages. That number pales in comparison to the millions of packages the company handles on the average day in 2019.

“I think this is certainly a moment to celebrate, but this will be a journey that will take time to get to scale,” FreightWaves CEO Craig Fuller said. “We are encouraged and excited that people have confidence in the market to trade, but ultimately this is going to be a long process.”

Disclosure: FreightWaves is a launch partner in Trucking Freight Futures.

Future of Supply Chain


The greatest minds in the transportation, logistics and supply chain industries will share insights, predict future trends and showcase emerging technology the FreightWaves way–with engaging discussions, rapid-fire demos, interactive sponsor kiosks and more.


  1. Jon

    Was it just the one contract all day or were there more? What was the final $ count at the end of the day as well as the final contract number? As this is a public market is this data available online like other futures markets?

Comments are closed.

Ashley Coker

Ashley is interested in everything that moves, especially trucks and planes. She works with clients to develop sponsored content that tells a story. She worked as reporter and editor at FreightWaves before taking on her current role as Senior Content Marketing Writer. Ashley spends her free time at the dog park with her beagle, Ruth, or scouring the internet for last minute flight deals.