WASHINGTON, DC – January 5, 2024
Nodal Exchange announced today that it achieved record trading volumes in 2023 in both power and environmental markets.
Nodal achieved a record 2.7 billion MWh power futures volume traded in 2023, representing 15% growth over 2022. Nodal is the market leader in North American power futures having the majority share of the open interest with a record 1.3 billion MWh as of end of year 2023. The open interest represents over $107.6 billion of notional value (both sides).
Nodal, with its collaborator IncubEx, continued to grow trading in the environmental futures and options markets. Nodal achieved a record 344,582 lots of environmental futures and options volume traded in 2023, representing 23% growth over 2022. Nodal US environmental futures and options open interest at year end 2022 was 278,110 lots, up 25% from the end of 2022.
In 2023, Nodal also launched six first exchange-listed products: New Jersey-Pennsylvania Dual-Qual Class 2 REC Futures, PJM Quad-Qual Class 1 REC Futures, Virginia RECs Futures, Washington Clean Fuels Program Futures, Washington Carbon Allowance Specific Vintage Futures and California Carbon Offset DEBS 0 Futures. Nodal also launched 23 new solar peak power futures contracts. These new products combined with others introduced in 2023, created in response to customer feedback, grew the total number of contracts offered and extended the largest suites of power and environmental futures and options products offered on any exchange in the world.
“Nodal appreciates the confidence of our trading community which resulted in significant growth in our power and environmental markets in 2023,” said Paul Cusenza, Chairman and CEO of Nodal Exchange. “As we begin the new year, we look forward to further developing our markets and expanding our product portfolio in order to best meet the needs of the markets we serve.”
Nodal Exchange Public Relations
Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American commodities markets. Nodal Exchange is a leader in innovation, having introduced the world’s largest set of electric power locational (nodal) futures contracts and the world’s largest set of environmental contracts. As part of EEX Group, a group of companies serving international commodity markets, Nodal Exchange currently offers over 1,000 contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. In addition, Nodal Exchange offers natural gas contracts. All Nodal Exchange contracts are cleared by Nodal Clear which is a CFTC registered derivatives clearing organization. Nodal Exchange is a designated contract market regulated by the CFTC. For more information, visit www.nodalexchange.com