New financially settled contracts based on OPIS daily price assessments expand access to hedging solutions across North American carbon and renewable fuel markets.

Nodal Exchange and OPIS, a Dow Jones company, announced the launch of new financially settled futures and options contracts based on OPIS daily price assessments, developed in cooperation with IncubEx.

The new products strengthen the connection between OPIS market intelligence and Nodal Exchange’s listed environmental market suite, providing commercial and financial market participants – including energy companies, commodity trading firms, banks, hedge funds and asset managers – with capital-efficient tools to manage risk in North American carbon and renewable fuel markets. The new product offering includes:

• WCA vs. CCA (OPIS) Spread Future: This agile tool is designed to enable traders to capture cross-market opportunities and hedging exposure across key North American carbon markets.
• California Low Carbon Fuel Standard Credit (OPIS) Future: The first financially settled renewable fuel contract made available on Nodal Exchange.
• California Low Carbon Fuel Standard Credit (OPIS) Option (Futures Style Margining)

This launch represents a significant industry milestone, as it marks the first time a futures exchange has partnered with a Price Reporting Agency (PRA) to list a PRA-settled financial contract for North American carbon markets.

Nodal Exchange announced strong performance in power, natural gas, and environmental markets. Nodal achieved a calendar month record for July with power futures volume of 198.5 TWh, up 4% from July 2025. The majority of U.S. power futures open interest is on Nodal Exchange with 1.475 billion MWh representing $173 billion of notional value based on both sides as of the end of July 2026.

Nodal’s natural gas markets futures trading reached 89.1 million MMBtu in July 2026, up 162% from 34.0 million MMBtu in July 2025.

Environmental futures and options on Nodal Exchange posted volume of 48,183 lots in July. Open interest ended the month at 443,343 lots, up 13% from a year earlier. Nodal also posted record open interest of more than 500,000 lots during the month of July.

Nodal posted a monthly delivery record in July with 61,671 lots delivered, up 26% from the prior largest delivery month set in July 2025.

Nodal Exchange is pleased to announce the latest enhancements to the Nodal Access trading platform. Designed to boost execution efficiency, improve market clarity, and provide deeper operational transparency, these updates continue to elevate your trading workspace.

Users now have access to a real-time, searchable audit trail widget that logs all session trading activity. Every order event, including entries, edits, executions, and rejections, is tracked in one place, with rejections and error messages highlighted for quick referencing and troubleshooting.

To speed up execution and maximize screen real estate, we’ve streamlined the primary order entry widget by reducing its size and removing less frequently used configurations. The new compact entry opens directly adjacent to the instrument from which it was called for faster placement.

To enhance market data accuracy, leg-level price reporting (FIX Tag 566) is now supported for complex, non-standard trades. Aggregate prices (FIX Tag 270) are replaced by individual leg prices for improved valuation precision, while standard trades remain unaffected.

We’ve streamlined the time & sales display for complex trade structures. Recognized non-standard trades now collapse into single-line entries by default, cutting down on visual clutter and manual clicks for a clearer view of market activity.

Interested in the Nodal Access trading platform? Please contact Screen Support.