WASHINGTON, D.C. and LONDON, OCTOBER 2, 2008
Nodal Exchange, the first marketplace to use a locational (nodal) market for forward power trading, and LCH.Clearnet, the leading independent clearing house, announced today they will be the Principal Sponsors for Platts The Nodal Trader conference to be held in Jersey City, New Jersey on November 13-14, 2008.
Platts The Nodal Trader conference will offer market insights into the ongoing evolution of the power trading arena for physical traders, pure financial traders, power analysts, power marketers, market monitors, and regulators. “We are excited about the opportunity to support this inaugural conference focused on the nodal trader,” stated Paul Cusenza, CEO of Nodal Exchange, and a speaker at the conference. “Electric power markets require a nodal approach to trading in order to manage basis risks.”
Simon Grensted, Managing Director, LCH.Clearnet said “Market volatility has led to increased interest in clearing energy traded products. In collaborating with Nodal Exchange to offer trading and clearing services for nodal power contracts, industry participants will benefit from the reduced risks associated with trading in a cleared market.”
The two organizations have co-sponsored several other events this year, including: 2008 PJM Annual Meeting of Members in Williamsburg, Virginia; Mid- Continent Energy Marketers Association 2008 Fall Conference in Brainerd, Minnesota; and ISO-NE Staff Charity Golf Tournament in Feeding Hills, MA.
About Nodal Exchange, LLC
Nodal Exchange, launching in early 2009, will be the first independent electronic commodities exchange dedicated to offering locational (nodal) forward trading products and services to participants in the organized North American electric power markets. Nodal Exchange will build on the success of the existing Regional Transmission Organization (RTO/ISO) day-ahead markets through the development of cash-settled forward nodal/zonal auctions that will enable participants to effectively manage basis and credit risk. The Nodal Exchange platform will also accept for clearing bilateral OTC transactions submitted by participants and brokers. Nodal Exchange is an independent, privately held company. For more information, visit nodalexchange.com.
LCH.Clearnet is the leading independent central counterparty (CCP) group in Europe serving major international exchanges and platforms, equity, exchange traded derivatives, energy, interbank interest rate swaps markets and the majority of the Euro-denominated and sterling bond and repo markets.
CONTACT NODAL EXCHANGE:
Tel: +44 (0)20 7426 7034