WASHINGTON--(BUSINESS WIRE)--Nodal Exchange has been named 2020 Exchange of the Year for the second year in a row by Energy Risk magazine. Energy Risk Awards recognize excellence across global energy and commodities markets.
Nodal Exchange continues to improve its strong position in the North American power futures markets and currently has the majority of the market with over 1 billion MWh of open interest. Nodal Exchange traded volume grew by 79% in 2019 and 27% over the first four months of 2020.
In addition, Nodal, working with its collaborator IncubEx, set a new record in U.S. environmental futures open interest with 68,874 lots and 7.4% market share at the end of April. Environmental open interest grew 230% year over year in April. Nodal has the broadest set of environmental contracts of any futures exchange in the world.
Nodal also achieved a record 1.34% market share of U.S. natural gas futures and options open interest as of end of April. Nodal Exchange migrated natural gas futures and options contracts open interest from Nasdaq Futures, Inc. (NFX) to Nodal Clear, Nodal Exchange’s clearing house, in April. 1,397,115,000 million British Thermal Units (MMBtu) or 160,000 natural gas lots were migrated to Nodal Exchange in April.
“Nodal Exchange is honored to receive the Exchange of the Year award from Energy Risk for the second year in a row,” said Paul Cusenza, Chairman and CEO of Nodal Exchange. “We are grateful for the support of our entire trading and clearing community without which this achievement would not have been possible, and we are pleased that Energy Risk has recognized our success.”
Energy Risk will present the Exchange of the Year award at a dinner in Houston in September.
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, environmental and trucking freight 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.