Washington, DC, March 3, 2022
Nodal Exchange achieved record monthly power futures trading in February 2022 with traded volume of 325.2 million MWh ($55.7 billion per side) for a record 50% market share. This represents Nodal Exchange’s highest volume month ever and a growth rate of 49% over February 2021. This follows a very strong January, in which Nodal achieved power futures trading volume of 221.9 million MWh, up 58% from the prior year. Nodal continues to be the market leader in North American power futures having the majority of the open interest with a record 1.186 billion MWh at the end of February (equivalent to the electricity usage of 108 million U.S. households for one year).
Nodal, with its collaborator IncubEx, also grew its environmental market in February where open interest reached a month end record of 185,415 lots, up 58% from 117,380 a year prior. February featured deliveries for the first time on Maryland Tier II RECs, DC Tier I RECs and NAR CRS Wind RECs on Nodal. Nodal also posted the first-ever trades in Maine Class IA RECs, listed only on Nodal Exchange. Since launching North American environmental products on Nodal in November 2018, more than 500,000 environmental contracts have been traded.
“Nodal Exchange and Nodal Clear play a key role in US markets supporting power, gas and environmental markets with price, credit and liquidity management,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “During this time of global conflict and uncertainty, we are proud to provide strong, stable trading and clearing services in support of the US economy and infrastructure within our global community.”
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 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.