Nodal Exchange today announced growth in power, environmental and natural gas trading. In power, Nodal set a calendar month record for September 2025 with 301 million MWh of traded power futures volume, up 18% from the prior year. Nodal also achieved a Q3 trading record with 725 million MWh of traded power futures volume, up 9% from the prior year. Nodal continues to be the market leader in North American power futures having the majority share of the open interest with 1.504 billion MWh at the end of September.

Environmental futures and options on Nodal Exchange posted volume in September 2025 of 59,054 lots, and in Q3 of 161,684 lots. Open interest ended the month and quarter at 410,998 lots, up 3% from a year earlier.

In a recent interview with Risk.net, Paul Cusenza discusses the evolving dynamics shaping the US power and environmental markets and why Nodal has about 95% share of the PJM zonal power markets.

Key highlights include energy transition and volatility, Nodal’s market growth, and navigating long-term uncertainty.

Nodal Exchange announced the launch of the Nodal Access^SM trading platform,

a web-based, customizable solution designed for trading power, natural gas, and environmental contracts. The platform provides users with a secure and flexible system to execute screen-based trades across all of Nodal Exchange’s asset classes, accessible from any browser.

Nodal Access includes front-end features such as highly customizable workspaces, real-time order data, and the availability of many tailor-made power trading contracts. The platform offers rapid implementation of new functionality and integrates seamlessly with existing trade capture solutions for straight-through processing.

“The launch of Nodal Access marks a significant milestone in our commitment to providing innovative and customer-centric solutions for traders,” said Paul Cusenza, CEO of Nodal Exchange. “By delivering a flexible and secure platform, we are empowering our users to trade with confidence and manage their portfolios effectively.”

Since the launch of Nodal Access, we have observed a consistent and regular flow of orders, with a number of these orders resulting in successfully executed trades.

Nodal Exchange participants using the Nodal Access trading platform are able to execute trades on the wide range of products listed on Nodal.

Products include:

• Power: Futures contracts for on-peak and off-peak power at commercially significant locations in the ISO-NE, NYISO, PJM, MISO, ERCOT, SPP and CAISO markets as well as Mid-C.
• Natural Gas: Cash settled futures contracts for Henry Hub.
• Environmental: Futures contracts on Renewable Energy Certificates; Carbon Emission Credits Allowances, & Offsets; Renewable Fuel Credits; and SO2/NOx Emission Allowances developed in collaboration with IncubEx.

Attendees at the upcoming S&P Global Nodal Trader Conference will have the opportunity to see the Nodal Access screen in action! The conference, taking place October 22 – 24 in Washington D.C., will feature live demonstrations of the platform at Nodal’s exhibit booth.

This is an excellent chance for traders to experience firsthand the flexible, web-based interface, highly customizable workspaces, and seamless trading functionality across Nodal’s power, natural gas, and environmental markets.

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. Nodal Exchange is the market leader in North American power futures achieving 57% share of open interest as of the end of May 2025.

Trading firms interested in utilizing the Nodal Access trading platform can contact Screen Support.