Nodal Exchange achieves record growth in power, environmental and natural gas markets in the first half of 2024
July 03 2024 - 9:00AM
Business Wire
Nodal Exchange today announced strong performance in power,
environmental, and natural gas futures as of the end of June 2024.
Nodal achieved record half year power volume for the first half of
2024 with 1.64 billion MWh traded, up 6% from 1.54 billion MWh
traded in the first half of 2023. Nodal Exchange is the leading
power futures exchange in North America with the majority of U.S.
power futures open interest. Nodal’s 1.377 billion MWh of open
interest as of end of June 2024 represents $128 billion of notional
value based on both sides. U.S. power futures open interest on
Nodal Exchange grew 8% year over year as of the end of June.
Nodal also posted strong growth in volumes and open interest in
the environmental market suite in the first half of 2024. Total
volume for Nodal environmental products in the first half of 2024
was 271,884 lots, up 65% from 164,638 lots a year earlier. Total
open interest in Nodal environmental products ended June 2024 with
351,659 lots, up 30% from a year earlier.
Nodal posted environmental market records each calendar month
this year, including an all-time monthly volume record in May of
51,747 lots. June had a calendar month record 39,039 lots traded,
up 85% from June 2023. Q2 volume rose 44%, with 139,651 lots traded
on Nodal.
Nodal posted open interest growth across the Renewable Energy
Certificates (REC) product group, with 270,664 lots at the end of
June, up 16%. The REC group also reached a new open interest record
of 284,683 lots on May 24th. The increase was supported by strong
volumes in NEPOOL, PJM and CRS-related REC contracts. Texas CRS
wind and solar RECs, the first successful voluntary REC products
listed, posted volume of 78,770 lots in the first half of 2024, up
30% from a year earlier. Open interest in Texas contracts hit a new
record of 71,651 lots at the end of June, up 44%. Renewable fuel
credit futures continued to show massive growth over the first half
of 2024 with 66,124 lots in renewable fuel credit contracts traded,
up more than 950% from a year earlier.
Nodal also achieved a half-year record in natural gas trading
with a 98% increase from a year earlier.
“Nodal Exchange is proud to serve these markets, and we are very
pleased to see record growth across each of our markets in the
first half of 2024,” said Paul Cusenza, Chairman and CEO of Nodal
Exchange and Nodal Clear. “As the year progresses, we look forward
to continuing to develop and offer innovative products that meet
the evolving needs of our 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
© EEX AG, Nodal – part of eex group
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Nodal Nicole Ricard Nodal Exchange Public Relations
P: 703-962-9816 ricard@nodalexchange.com