Nodal Exchange today announced it achieved a calendar month trading record for February 2024 with 379.1 million MWh of traded power futures volume in the month, up 30% from the prior year. This represents Nodal Exchange’s highest volume month ever, surpassing Nodal’s prior monthly record volume of 325.2 million MWh of traded power futures volume in February 2022. Nodal continues to be the market leader in North American power futures having the majority of the open interest with 1.35 billion MWh at the end of February.
Nodal also posted a calendar month trading record for February in its environmental markets with 50,085 lots traded, up 133% from 21,538 lots a year earlier. Environmental open interest at the end of February was 311,650 lots, up 37% from 228,188 a year earlier.
Several key environmental markets continued to post solid growth during the month including REC futures, which posted an open interest of 252,590 lots, up 25% from 202,335 lots a year earlier. Open interest in CRS-related futures and options rose to 68,121 lots, up 45% at month end from 47,014 lots a year earlier. These voluntary wind and solar REC contracts from Texas, NAR, M-RETS and other registries continue to show demand for CRS-related products. Texas CRS wind and solar open interest rose to 60,827 lots, up 35% from 45,039 lots a year earlier. NAR CRS wind and solar open interest rose to 6,574 lots, up 327% from 1,540 lots a year earlier. NAR CRS also posted a monthly volume record of 3,200 lots, topping the previous high of 1,910 lots in May 2023.
February also posted an all-time California LCFS futures and options volume record with 13,771 lots. Open interest in LCFS rose to 39,391 contracts at month end, up nearly 37x from a year earlier. Since the start of the year, LCFS open interest is up 54%.
“Nodal Exchange is proud to see such significant growth in its power and environmental markets,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “We are grateful to our trading and clearing community for their support in growing 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
