Washington, DC, November 3, 2021
Nodal Exchange today announced new trading records in power and environmental futures. In power, Nodal set a trading month record in October 2021 with 256 million MWh of power futures volume traded in the month. This represents Nodal Exchange’s highest volume month ever (excluding the NFX business acquisition in February 2020) and a growth rate of 67% over October 2020. Nodal continues to be the market leader in North American power futures having the majority share of the open interest with a record 1.140 billion MWh at the end of October. The open interest represents over $110 billion of notional value (both sides).
Nodal Exchange also posted new monthly volume and open interest records across the environmental markets’ suite. October 2021 environmental futures and options volume achieved a calendar month record 14,039 lots, up 80% from 7,757 lots in October 2020. Environmental futures and options open interest ended October 2021 at a record 157,750 contracts, up 81% from 87,094 a year earlier.
Nodal, with its collaborator IncubEx, continues to develop the environmental markets on Nodal. In October, the first-ever physical delivery of RINs from a futures contract was completed on Nodal Exchange. RINs were delivered in the EPA Moderated Transaction System (EMTS). Nodal listed D3, D4, D5 and D6 RIN futures along with complementary RIN options contracts in November 2020. The contracts expanded the renewable fuels products group on Nodal, which also lists contracts on the California Low Carbon Fuels Standard and Oregon Clean Fuels Program. Additionally, Maine Class 2 REC futures traded for the first time on October 13th. The first Maine Class 2 REC futures were listed on September 8 and complement Maine Class 1 RECs on Nodal.
“Nodal is pleased to have achieved these new records in both power and environmental markets and appreciates the ongoing support of its community,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “We are very happy to see the growth in these markets and are proud to be contributing the to the evolution and expansion of the North American environmental markets.”
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.