Nodal Exchange sets records in power open interest in May with majority of market

WASHINGTON--(BUSINESS WIRE)--Nodal Exchange achieved record open interest in power futures in May 2020.

Nodal Exchange continues to improve its strong position in the North American monthly power futures market with its highest volume May ever. Nodal had total traded volume in May of 182 Million MWh which surpassed its previous record of 162 Million MWh from May of 2019. Nodal has now set a monthly volume record in 21 of the past 22 months. Nodal achieved 42% market share of traded volume this month in power futures and 50.3% of open interest with a record 1,051 million MWh representing $53.7 Billion of notional value (both sides). Nodal Exchange had 59% of open interest in PJM contracts and 56% in ISO-NE contracts in May.

“May marked the first month when Nodal Exchange achieved the majority of the U.S. power market open interest,” said Paul Cusenza, Chairman and CEO of Nodal Exchange. “Nodal Exchange is proud to see continued growth in our power futures business and very much appreciates the support of our trading and clearing community.”

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. 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.