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Nodal Newsletter | July 2026

Nodal Highlights

NODAL POWER

  • Nodal Exchange announced plans to launch 168 new power hourly futures contracts available across 7 locations.
  • Power futures traded volume was 211 million MWh in June, up 28% from the same period in 2025.
  • Nodal achieved 1.506 billion MWh of open interest as of the end of June 2026, up 2% from 1.481 billion MWh at the end of June 2025.
  • With 56% of U.S. power futures open interest, Nodal Exchange remains the leading power futures exchange in North America.

NODAL ENVIRONMENTAL

  • Total open interest in Nodal environmental products ended June 2026 with 493,977 lots, up 20% from 410,510 lots a year earlier.
  • Carbon futures and options posted volume of 106,822 lots in the first half of 2026, up 56% from a year earlier.
  • Renewable energy certificate (REC) futures and options posted volume of 31,371 lots in June 2026, up 31% from a year earlier and ended the month with open interest of 415,262 lots, up 28%.

NODAL NATURAL GAS

  • Open interest in Nodal’s natural gas markets reached 53,070,000 MMBtus as of the end of June 2026, a 295% increase from a year ago.

Nodal Exchange announces plan to launch power hourly futures contracts on August 31st

Nodal Exchange announced the August 31st planned launch of 168 new power hourly futures contracts available across 7 locations, including:

  • ERCOT.HB_NORTH
  • ERCOT.HB_SOUTH
  • ERCOT.HB_WEST
  • ERCOT.HB_HOUSTON
  • PJM.WESTERN HUB
  • PJM.AEP-DAYTON HUB
  • PJM.N ILLINOIS HUB

For each location, there will be 24 contracts available representing a single hour of the day, with the next 5 days of expiries available for trading. These new power contracts will allow participants to manage real-time positions, hour-by-hour, directly on Nodal and are the first hourly futures contracts to be offered by Nodal Exchange.

The power hourly contracts, offered alongside Nodal’s existing daily and monthly contracts, are scheduled to be available August 31st for both block and electronic trading subject to regulatory compliance.

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Nodal Exchange achieves strong performance in power, gas and environmental futures in the first half of 2026

Nodal Exchange announced strong performance in power, environmental, and natural gas futures as of the end of June 2026. Power futures traded volume was 211 million MWh in June, up 28% from the same period in 2025. For the first half of 2026, traded volume was 1.58 billion MWh. Nodal achieved 1.506 billion MWh of open interest as of the end of June 2026 up 2% from 1.481 billion MWh at the end of June 2025. This represents $176 billion of notional value based on both sides. Nodal Exchange remains the leading power futures exchange in North America with 56% U.S. power futures open interest.

Total open interest in Nodal environmental products ended June 2026 with 493,977 lots, up 20% from 410,510 lots a year earlier.

Environmental futures and options volume totaled 400,224 lots for the first half of 2026. Carbon futures and options posted volume of 106,822 lots in the first half of 2026 up 56% from a year earlier.

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Upcoming Events

September 1-3, 2026
RENEWABLE ENERGY MARKETS 2026: Nodal Exchange is sponsoring the Renewable Energy Markets 2026 Conference taking place Tuesday, September 1 to Thursday, September 3 in Washington, D.C. For more information visit: Renewable Energy Markets Conference 2026
September 15-17, 2026
ARGUS NORTH AMERICAN BIOFUELS, LCFS & CARBON MARKETS SUMMIT 2026: Nodal Exchange is sponsoring the Argus North American Biofuels, LCFS & Carbon Markets Summit taking place Tuesday, September 15 to Thursday, September 17 in Monterey, California. Caroline Gentry, Director of Environmental Markets at Nodal Exchange will be participating as a moderator on the panel, ‘Carbon Markets Under Pressure: Are Carbon Markets Delivering Credible Signals for Investment and Compliance?’ on day 1 of the conference. For more information visit: Argus North American Biofuels, LCFS & Carbon Markets Summit 2026
September 28-30, 2026
FIA FORUM: COMMODITIES 2026: Nodal Exchange is sponsoring the FIA Forum: Commodities 2026 taking place Monday, September 28 to Wednesday, September 30 in Houston, Texas. For more information visit: FIA Forum: Commodities Conference 2026
October 5-7, 2026
EMA’s 30TH ANNUAL MEETING: Nodal Exchange is sponsoring EMA’s 30th Annual Meeting taking place Monday, October 5 to Wednesday, October 7 in Annapolis, Maryland. For more information visit: EMA’s 30th Annual Meeting
October 21-23, 2026
NODAL TRADER CONFERENCE 2026: Nodal Exchange is sponsoring the Nodal Trader Conference taking place Wednesday, October 21 to Friday, October 23 in Washington, D.C. Paul Cusenza, Chairman and CEO of Nodal will be chairing the event. For more information visit: Nodal Trader Conference 2026
November 2-4, 2026
FIA FUTURES AND OPTIONS EXPO 2026: Nodal Exchange is sponsoring the FIA Futures and Options Expo taking place Monday, November 2 to Wednesday, November 4 in Chicago, Illinois. For more information visit: FIA Futures and Options Expo Conference 2026

Nodal in the news

June 2026

Nodal Exchange open interest grows in all markets in May 2026

Learn more
June 2026

Nodal Exchange and IncubEx expand environmental product suite

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June 2026

Nodal Clear announces Nanhua USA as new clearing member

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About Nodal

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. 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 and environmental 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.