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Nodal Newsletter | November 2023

Nodal Highlights

NODAL POWER HIGHLIGHTS

  • Nodal set a year-to-date record in power futures with traded volume of 2.355 billion MWh, up 15% from 2.050 billion MWh during the same time period in 2022.
  • Open interest at the end of October for power futures exceeded 1.2 billion MWh.

NODAL ENVIRONMENTAL HIGHLIGHTS

  • Nodal set a calendar month record in October on the exchange in environmental futures and options trading with volume of 21,368 lots, up 22% from October 2022.
  • Open Interest in environmental markets reached 274,849 lots in October, up 32% from October 2022.

FOW INTERNATIONAL AWARDS 2023

  • Nodal Exchange and Nodal Clear were shortlisted for ‘Exchange of the Year – The Americas & Canada’ and ‘Clearing House of the Year’ respectively by FOW International Awards 2023. Please visit FOW Global Investor Group to view the shortlist. Thank you to our trading and clearing community for your support.

Nodal Exchange achieves record volume in power and environmental markets

Nodal Exchange announced new trading records in power and environmental futures. In power, Nodal achieved a year-to-date record with January 2023 – October 2023 traded power futures volume of 2.355 billion MWh, up 15% from 2.050 billion MWh during the same time period 2022. In October, Nodal Exchange traded volume was 242.5 million MWh, up 27% from October 2022. Nodal continues to be the market leader in North American power futures having the majority share of the open interest with a 1.268 billion MWh at the end of October. The open interest represents over $121.4 billion of notional value (both sides).

October volume in environmental products totaled 21,368 lots, up 22% from 17,510 lots a year earlier, making it the highest October on the exchange. Total open interest ended October at 274,849 lots, up 32% from 208,968 lots a year earlier.

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Nodal Exchange’s influence in the natural gas market grows

Nodal Exchange’s natural gas market is quietly growing. With over 20 firms actively participating, Nodal’s market has managed to attract a diverse mix of participants. Banks, funds, commercial entities, and electronic market makers have all found their place on this platform, creating a trading environment that is both competitive and dynamic.

Nodal Exchange’s natural gas products can be used to hedge price risk in the natural gas markets. In addition, our natural gas contracts provide portfolio margining benefits with participants’ Nodal Exchange power portfolios resulting in greater capital efficiency.

Nodal Exchange offers cash-settled monthly futures, spreads, strips and calls for Henry Hub Last Day and Penultimate. In addition, monthly options are available for Penultimate futures. Futures and options are offered in both a 2,500 MMBtu lot size and a 10,000 MMBtu lot size.

As trading volumes steadily increase, Nodal Exchange’s natural gas offering is proving to be a reliable choice for traders looking to navigate the natural gas market with confidence.

Nodal in the news

October 2023

Nodal achieves 65% growth in power & 10% growth in environmental futures

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October 2023

Paul Cusenza talks to Risk.Net about winning Energy Risk Awards 2023

Watch video
September 2023

Nodal achieves new records in power and environmental futures

Learn more

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.