WASHINGTON, May 15, 2013
Nodal Exchange has been named “Exchange of the Year” by Energy Risk magazine at The Energy Risk Awards 2013.
Energy Risk Awards recognize excellence in the energy risk management marketplace and honor those demonstrating best practice.
Since its launch in April 2009, Nodal Exchange has grown to become a significant part of the North American power market, obtaining a market share of over 22% of all cleared North American power futures contracts, measured by open interest, as of April 30th 2013. Nodal Exchange’s success is due to its many innovations, and, in particular, to its granular contract offering, which allows its customers to create more effective hedges. Nodal Exchange is the leading market for power basis trading – across the markets of PJM, MISO, ISO-NE and ERCOT, Nodal Exchange has a 60% market share of zonal open positions and a 100% market share of nodal open positions. Nodal Exchange is continuing its strong growth with calendar first quarter 2013 trading volumes more than doubling those of first quarter 2012.
“Nodal Exchange is honored to receive the Exchange of the Year Award from Energy Risk magazine,” said Paul Cusenza, Chief Executive Officer of Nodal Exchange. “Nodal Exchange continues to innovate to meet the needs of the marketplace, including successfully introducing new energy+congestion contracts in 2012. Our exceptional growth has been possible thanks to the efforts and dedication of the employees of Nodal Exchange and the many constituents, including LCH.Clearnet, 12 clearing members and over 80 signed participants, that help make Nodal Exchange a thriving marketplace, and we are pleased that Energy Risk has acknowledged these accomplishments.”
Energy Risk presented the “Exchange of the Year” award at a dinner in Houston on May 14th.
About Nodal Exchange, LLC
Nodal Exchange is the first commodities exchange dedicated to offering locational (nodal) futures contracts and related services to participants in the organized North American electric power markets. Nodal Exchange offers contracts for both power and natural gas. Nodal Exchange builds on the success of the existing Regional Transmission Organization/Independent System Operator (RTO/ISO) Day Ahead and Real Time markets by offering cash-settled futures contracts in a cleared market enabling Nodal Exchange participants to effectively manage basis and credit risk. Nodal Exchange offers over 1,000 contracts on hundreds of unique locations in the RTO/ISO markets. Nodal Exchange is a designated contract market regulated by the CFTC with all contracts cleared by LCH.Clearnet Ltd. Nodal Exchange is an independent, privately held company. For more information, visit nodalexchange.com.