WASHINGTON, December 16, 2013
Nodal Exchange won the 2013 Platts Global Energy Award for “Rising Star Company” at the 2013 Platts Global Energy Awards held in New York City on December 12th.
Now in its 15th year, the Platts Global Energy Awards program honors exemplary achievement in the energy industry, recognizing corporate and individual performance, innovation and entrepreneurship. In the Strategic Vision Awards category, the Rising Star Company recognizes the achievements of either a startup business or an existing business that has moved into a brand new field. Nodal Exchange was selected to win this award from among eleven other highly qualified finalists in the global energy industry.
“Nodal Exchange has grown significantly this year, obtaining a market share of over 27% of all cleared North American power futures contracts, measured by open interest as of the end of November 2013, with year-to-date trading volume that is double the same period in 2012,” said Nodal Exchange Chief Executive Officer Paul Cusenza. “We credit this growth to our employees and our trading community, including: trading participants, brokerages, clearing members, LCH.Clearnet, and information and systems providers to our market. We are sincerely honored to be recognized by Platts for our innovation and growth.”
“The judges panel found Nodal Exchange to be a standout among its finalist peers, and we congratulate the company on its win,” said Larry Neal, president of Platts. “We applaud each of the winners of the 2013 Platts Global Energy Awards for their accomplishments, contributions and commitment to the world’s energy future.”
The 2013 winners in 18 performance categories were selected from over 200 nominations from 26 nominating countries by a panel of independent judges. Winners were announced December 12th at the 15th annual Platts Global Energy Awards at the Waldorf Astoria in New York City, widely recognized as the “Oscars” of the energy industry.
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.
Founded in 1909, Platts is a leading global provider of energy, petrochemicals, metals and agriculture information and a premier source of benchmark prices for the physical and futures markets. Platts’ news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts’ coverage of the biofuels, carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, shipping and sugar markets. A division of McGraw Hill Financial (NYSE: MHFI), Platts is headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.