Nodal Exchange Achieves New Records in Its Power (Up 23%), Environmental (Up 621%) and Natural Gas (Up 261%) Markets
WASHINGTON–(BUSINESS WIRE)–Nodal Exchange today announced new trading records in its power, environmental and natural gas markets. In power, Nodal achieved a year-to-date record with January to October 2024 traded power futures volume of 2.600 billion MWh, up 10% from 2.357 billion MWh during the same period in 2023. In October, Nodal Exchange traded volume was 299 million MWh, up 23% from October 2023. Nodal continues to be the market leader in North American power futures having the majority share of the open interest with 1.416 billion MWh at the end of October. The open interest represents over $124 billion of notional value (both sides).
October volume in environmental products totaled 154,119 lots, up 621% from 21,368 lots a year earlier, setting a new monthly record on the exchange. Total open interest ended October at 458,985 lots, up 67% from 274,849 lots a year earlier.
Carbon futures and options volume across CCAs, RGGI and WCA products totaled 55,518 lots in October while open interest ended the month at 101,307 lots. Renewable energy certificate (REC) October volume totaled 71,763 lots, with open interest ending the month at 281,452 lots. Renewable fuels futures and options volume was 26,838 lots while end of month open interest totaled 76,226 lots, marking another OI record for the product group.
Natural Gas trading volume has surged as well contributing to a record year to date as the exchange has posted 768,447,500 MMBtus in traded natural gas futures, up 261% from the same period in 2023. October traded volume alone was 133,880,000 MMBtus which is the second-best month on the exchange. Open interest reached 142,067,500 MMBtus as of the end of October, a 49% increase from a year ago.
“Nodal is pleased to have achieved these new records across all of its markets and values the significant ongoing support of its community,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “We are very delighted to see the continued growth and are proud to be contributing the to the evolution and expansion of the North American power, environmental and natural gas markets.”
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 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. www.nodalexchange.com
Contacts
Nodal
Nicole Ricard
Nodal Exchange Public Relations
