WASHINGTON, May 26, 2010
Nodal Exchange, the first exchange dedicated to offering locational (nodal) futures contracts and related services to participants in the organized North American electric power markets, has been named “Innovation of the Year” by Energy Risk magazine at their 14th annual Energy Risk Awards.
Energy Risk Awards recognize excellence in the energy risk management marketplace and honor those demonstrating best practice.
“In an effort to better meet the needs of our market, Nodal Exchange was launched in April 2009. Utilizing two key innovations – the Nodal Exchange Auction Engine and the application of Value-at-Risk Margining – Nodal Exchange offers over 50,000 unique, cleared contract expiries, providing an extraordinary degree of granularity for basis trading,” said Paul Cusenza, CEO of Nodal Exchange. “We are proud to be part of a community that currently includes LCH.Clearnet as the central counterparty, 8 clearing members, 7 brokers, more than 50 participants and a host of other parties such as data and service providers. In many respects, we consider this an award for the Nodal Exchange community, and we very much appreciate that Energy Risk has recognized our efforts.”
Energy Risk presented the “Innovation of the Year” award at a dinner in Houston on May 25th.
About Nodal Exchange, LLC
Nodal Exchange is 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 builds on the success of the existing Regional Transmission Organization/Independent System Operator (RTO/ISO) day-ahead markets through the development of cash-settled forward nodal/zonal auctions that enables Nodal Exchange participants to effectively manage basis and credit risk. The Nodal Exchange platform also accepts for clearing bilateral over-the-counter (OTC) transactions submitted by participants and brokers. Nodal Exchange is an independent, privately held company. For more information, visit nodalexchange.com.