Nodal Exchange Achieves Second-Highest Trading Volume Ever in Both Power and Environmental Markets in April
WASHINGTON–(BUSINESS WIRE)–Nodal Exchange today 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.
April featured several new environmental market records:
- Open Interest on Renewable Energy Credits (RECs) on Nodal hit a new record of 272,921 lots at the end of April, up 22% from a year earlier.
- NEPOOL-related REC posted record open interest of more than 61,000 lots, up 36% from the year prior.
- California Low Carbon Fuel Standard (LCFS) achieved record open interest of 47,633 lots, up 86% this year.
Nodal, in collaboration with IncubEx, offers the largest suite of environmental contracts in the world, with more than 120 futures and options products listed on the exchange.
Nodal’s natural gas markets had 73 million MMBtu of traded volume, up over seven-fold year over year.
“I am excited to see strong performance across all of our markets,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “We are proud to serve these markets in managing risk and appreciate the ongoing support of this community.”
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
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