Nodal continues to be the market leader in North American power futures achieving a record 57.3% of the open interest with 1.5 billion MWh at the end of February. The open interest represents over $148.5 billion of notional value (both sides). The traded volume in February was 356 million MWh, which is the second highest trading volume month of all time.

Nodal Exchange also announced calendar month trading records in natural gas and environmental markets in February. In Nodal’s natural gas markets, futures trading reached 88.6 million MMBtu in February 2025, up 143% from 36.5 million MMBtu in February 2024.

Nodal, with its collaborator IncubEx, also posted a calendar month trading record for February in its environmental markets with 102,752 lots traded, up 105% from 50,085 lots a year earlier. Environmental open interest at the end of February was 416,945 lots, up 34% from 311,650 a year earlier. Environmental products on Nodal set a daily volume record on February 11th of 27,823 lots.