Nodal Exchange achieves year over year growth in all markets

Nodal Exchange announced new trading records in power and environmental futures. In power, Nodal achieved a year-to-date record with January to November 2023 traded power futures volume of 2.574 billion MWh, up 15% from the same period in 2022. In November, Nodal Exchange traded volume was 219.2 million MWh, up 11% from November 2022. Nodal continues to be the market leader in North American power futures having the majority share of the open interest with 1.283 billion MWh at the end of November. The open interest represents over $116.5 billion of notional value (both sides).

In Nodal’s natural gas markets, futures trading reached 79.5 million MMBtu in November 2023, which is up 4X year over year.

Nodal also achieved record open interest and volume in the environmental markets in November. Open interest ended the month at a record 290,733 lots, up 32% from a year earlier. Volume hit a monthly record of 47,007 lots, up 74% from a year earlier. Volume through the first 11 months of 2023 was 317,758 lots, up 28%.

Broken down further, open interest in the renewable energy certificate products reached 230,913 lots, ending the month up 30% from a year earlier.

Notable open interest across environmental products at the end of November include:

  • PJM-related contracts 126,431 lots, up 15%
  • Texas CRS wind and solar products: 50,116 lots, up 16%
  • NEPOOL-related contracts, 49,597 lots, up 124%
  • California LCFS, 17,800 lots, up 822%

“Nodal is pleased to see continued growth in all its markets and appreciates the ongoing support of its community," said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “We are proud to be ending 2023 strong and are looking forward to continuing to meet the growing and evolving needs of our markets in 2024.”

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 and the world’s largest set of environmental 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.