WASHINGTON--(BUSINESS WIRE)--Nodal Exchange achieved a new monthly trading record in monthly power futures with a total volume of 231 million MWh in October 2019 (notional value of $7.5 billion per side) and a 44% market share of traded volume. This represents an 84% growth rate over October 2018 and the 15th consecutive month of record calendar month trading volume in power futures. Nodal Exchange continues to improve its strong position in the North American monthly power futures markets achieving a record 44% market share of open interest as of October 31, 2019.
In addition, Nodal Exchange achieved record environmental futures trading with 13,335 lots traded in October and a record 7.2% market share. Open interest also set records with 5.9% market share and 47,350 lots. Environmental futures were first listed, working in collaboration with Incubex, in November 2018.
“We are excited to see the continued growth and record trading in both power and environmental futures and very much appreciate the trust and support of our trading and clearing community which enables us to achieve these outstanding results,” said Paul Cusenza, Chairman and CEO of Nodal Exchange.
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. 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 and environmental 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.