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Nodal Newsletter | June 2023

Nodal Highlights

BUSINESS HOURS EXTENSION

  • Nodal Exchange announces extension of daily market trading hours from 8:00 am – 5:00 pm to 8:00 am – 6:00 pm starting on Monday, June 26, 2023.

LAUNCH OF FUTURES-STYLE MARGIN OPTIONS

  • Nodal Exchange announces July launch of Futures-Style Margin option contracts.

GLOBAL CAPITAL DERIVATIVES AWARDS

  • Nodal was shortlisted for Americas Derivatives Exchange of the Year and Americas Derivatives Clearing House of the Year by Global Capital Awards. Thank you to our trading and clearing community for your support.

NODAL POWER HIGHLIGHTS

  • Nodal set a calendar month trading record in power futures with traded volume of 234 million MWh, up from 220 million MWh in May 2022.
  • Open interest at the end of May for power futures was 1.286 billion MWh, representing $111 billion of notional value based on both sides.

NODAL ENVIRONMENTAL HIGHLIGHTS

  • Open Interest in environmental markets reached 263,917 lots in May, up 33% from April.

Nodal Exchange extends its daily market trading hours

To better serve our community, we are extending our daily market trading hours from 8:00 am – 5:00 pm to 8:00 am – 6:00 pm starting on Monday, June 26, 2023. All times are in US Eastern. The extension of our trading hours is a direct response to the feedback we have received from our community, and we are delighted to implement this change to support your trading activities.

Nodal Exchange announces July launch of Futures-Style Margin options

Nodal is pleased to announce our plan to introduce Futures-Style Margin (FSM) option contracts in July 2023. This will include listing seven new FSM option contracts along with the conversion of many currently listed Equity-Style Margin (ESM) option contracts into FSM versions.

Existing options contracts will either be dual listed, converted from ESM to FSM, or kept as is. Dual listing means that Nodal will launch an FSM version of an existing contract while keeping the existing ESM option contract active. Please click here to download a detailed file showing the treatment of each contract or contact the help desk or call 703- 962-9860 with any questions about these changes.

Nodal Exchange achieves records in power and environmental futures in May

Nodal Exchange today announced new records in power and environmental futures. In power, Nodal set a calendar month record for May with traded power futures volume of 234 million MWh, up from 220 million MWh in May 2022. Nodal continues to be the market leader in North American power futures with 52.6% share of open interest at the end of May with 1.286 billion MWh open interest representing $111 Billion of notional value based on both sides.

For the month, environmental markets on Nodal posted record open interest of 274,666 lots and closed the month at 263,917 lots, up 33% from 199,059 lots a year earlier. Broken down further, the renewable energy certificate group posted record open interest of 241,451 lots, and closed the month at 230,667 contracts, up 37% from 168,975 lots a year earlier.

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Upcoming Events

September 7, 2023
CHICAGO BASEBALL OUTING 2023: Nodal Exchange will be sponsoring the Chicago baseball Outing 2023 hosted by the FIA Operations Americas Division taking place Thursday, September 7 in Chicago, Illinois. For more information visit: Chicago Baseball Outing 2023
September 13-14, 2023
FIA FORUM COMMODITIES 2023: Nodal Exchange will be sponsoring the FIA Forum Commodities 2023 taking place Wednesday, September 13 to Thursday, September 14 in Houston, Texas. For more information visit: FIA Forum Commodities 2023

Nodal in the news

May 2023

Nodal Exchange achieves records in power and environmental futures

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May 2023

Nodal Exchange and IncubEx collaborate to expand environmentals

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May 2023

Nodal named 2023 Commodity Exchange of the Year by Energy Risk

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About Nodal

Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American commodities markets. Nodal Exchange is a leader in innovation, having introduced the world's largest set of electric power locational (nodal) futures contracts. As part of EEX Group, a group of companies serving international commodity markets, Nodal Exchange currently offers over 1,000 contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. In addition, Nodal Exchange offers natural gas and environmental contracts. All Nodal Exchange contracts are cleared by Nodal Clear which is a CFTC registered derivatives clearing organization. Nodal Exchange is a designated contract market regulated by the CFTC.