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Nodal Newsletter | May 2024

Nodal Highlights

ENERGY RISK AWARDS 2024

  • Nodal was named Commodity Exchange of the year at Energy Risk Awards 2024 by Risk.Net for the seventh time. Thank you to our trading and clearing community for your tremendous support through the years!

NODAL POWER HIGHLIGHTS

  • Nodal set a calendar month trading record in power futures with traded volume of 345 million MWh, up 13% from April 2023.
  • Open interest at the end of April for power futures was 1.374 billion MWh, representing $128 billion of notional value based on both sides.

NODAL ENVIRONMENTAL HIGHLIGHTS

  • Nodal set a calendar month record in environmental futures and options trading with volume of 48,865 lots, up 11% from April 2023.
  • Open Interest in environmental markets reached a record high of 341,194 lots in April, up 34% from April 2023.

NODAL NATURAL GAS HIGHLIGHTS

  • Nodal’s natural gas markets had 73 million MMBtu of traded volume, up over seven-fold year-over-year.

Nodal Exchange named Commodity Exchange of the Year by Energy Risk

Nodal Exchange has been named 2024 Commodity Exchange of the Year for the second year in a row by Energy Risk magazine. The Energy Risk Awards recognize excellence in financial risk management across the global commodities markets. Energy Risk presented the Commodity Exchange of the Year award at a ceremony in Houston on May 16.

Nodal Exchange is a leader in innovation, having introduced the largest set of electric power locational (nodal) futures and options contracts and the largest set of environmental futures and options contracts in the world. In addition, Nodal Exchange lists natural gas contracts. Nodal Exchange is the market leader in North American power futures achieving 55% share of open interest at the end of April 2024. Nodal posted a record quarter in Q1 2024 with 892 million MWh traded power futures volume, surpassing Q1 2022’s record of 850 million MWh.

Beyond power and natural gas, Nodal, in collaboration with IncubEx, continues to grow the environmental markets.  In the first quarter, volume across the product suite was 132,233 lots, up 95% from 67,711 lots a year earlier. Open interest at the end of Q1 2024 was 320,345 lots, up 42% from 226,306 at the end of Q1 2023. Nodal now lists more than 120 environmental futures and options contracts, the broadest suite of exchange-traded contracts.

“Nodal Exchange is honored to receive the Commodity Exchange of the Year award from Energy Risk for the seventh time,” said Paul Cusenza, Chairman and CEO of Nodal Exchange. “We are grateful for the support of our entire trading and clearing community without which this achievement would not have been possible, and we are pleased that Energy Risk has recognized our collective success.”

Nodal Exchange achieves second-highest trading volume ever in both power and environmental markets in April

Nodal Exchange announced new records in power and environmental futures. In power, Nodal set a calendar month record for April with traded power futures volume of 345 million MWh, up 13% from 306 million MWh in April 2023. This is the second highest month ever for Nodal Exchange, only surpassed by the 379 million MWh in February 2024. Nodal continues to be the market leader in North American power futures with 55% share of open interest at the end of April with 1.374 billion MWh open interest representing $128 billion of notional value based on both sides.

Nodal posted the second-highest monthly volume ever in environmental markets of 48,865 lots, topping the prior record of 43,883 lots in April 2023 by 11%. Open interest in environmental products on Nodal Exchange reached a record high of 341,194 lots in April, up 34% from 255,418 at the end of April 2023.

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Upcoming Events

June 4, 2024
CHICAGO BASEBALL OUTING 2024: Nodal Exchange will be sponsoring the Chicago Baseball Outing 2024 event hosted by the FIA Operations Americas Division taking place Tuesday, June 4 in Chicago, Illinois. For more information visit: Chicago Baseball Outing 2024

Nodal in the news

April 2024

Nodal announces Deutsche Börse Market Data + Services cooperation

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April 2024

Nodal Exchange celebrates our 15th anniversary!

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March 2024

Nodal achieves February trading records in power and environmentals

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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.