WASHINGTON--(BUSINESS WIRE)--Nodal Exchange, LLC has introduced two new power futures contracts based on the trading hub, Mid-Columbia, in the Northwest Power Pool (NWPP). The new hub is available in monthly term contracts for both peak and off-peak hours within the month. The final settlement price for each contract month shall be equal to the final settlement price as reported by the Intercontinental Exchange (ICE Futures U.S.) for the Mid-Columbia peak (contract symbol: MDC) or off-peak (contract symbol: OMC) contract as appropriate for 69 months forward.
“Nodal Exchange trading volumes grew 97% in 2016 over 2015. As of the end of 2016, Nodal Exchange open positions represented 26.4% of all monthly term power futures open interest in the United States,” said Paul Cusenza, Chairman and Chief Executive Officer of Nodal Exchange. “As we enter 2017, we are very excited about expanding our offering in the west, and we look forward to continuing to offer new products that meet the needs of the U.S. power market.”
About Nodal Exchange, LLC
Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American energy markets. Nodal Exchange is a leader in innovation, having introduced the world’s largest set of electric power locational (nodal) futures contracts. 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 a Henry Hub natural gas contract providing cross-margining benefits with participant’s power portfolios. 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. Nodal Exchange is an independent, privately held company.