Nodal Exchange environmental markets grew 231% in July setting a new monthly trading record
WASHINGTON–(BUSINESS WIRE)–Nodal Exchange today announced a new monthly volume record for environmental markets with 64,562 lots traded of futures and options, surpassing the prior record by 25% set in May 2024 of 51,747 lots on Nodal Exchange. The traded volume in July 2024 was up 231% from July 2023. The product suite also posted an all-time high in open interest of 376,548 lots during July. With more than 41,000 lots physically delivered, open interest ended the month at 339,261 lots, up 40% from 242,344 lots from a year earlier.
Broken down further, open Interest in environmental options, including California Carbon Allowance (CCA) options and California Low Carbon Fuel Standard (LCFS) options reached a new record of 35,155 lots at month-end. Total futures and options open interest in LCFS products ended the month with a new open interest record of 61,049 lots.
Several other product groups also posted records in July. The traded volume in renewable energy certificates (RECs) totaled 34,489 lots, up 88% from 18,386 lots a year earlier. Open interest in REC contracts ended the month at 241,942 lots, up 18% from 204,926 lots a year earlier.
CRS-listed REC futures on Nodal posted volume of 22,291 lots in July, up 188% from 7,736 lots a year earlier. Open interest in CRS-listed RECs hit a new record of 84,099 contracts at the end of July, up 50% from 56,198 lots a year earlier. CRS-listed RECs include: Texas wind and Texas solar, NAR wind and NAR solar, M-RETS wind, WREGIS wind and the National wind REC contracts (deliveries from all four registries).
North American compliance carbon products on Nodal posted a monthly volume record of 27,761 lots in July, a 98-fold increase from a year earlier. Carbon open interest ended the month at a record of 36,270 lots, up 17.31% from 30,918 lots a year earlier.
“Nodal Exchange is committed to a more sustainable future and is proud to serve the environmental markets with the largest suite of environmental futures and options in the world,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “We are excited to see the support of the environmental markets with outstanding growth in both futures and options traded on Nodal Exchange and cleared by Nodal Clear.”
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
P: 703-962-9816
ricard@nodalexchange.com
