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Nodal Exchange, LLC and LCH.Clearnet Ltd announced today that they have extended expiries to include current month plus 48 months forward on 144 peak and off-peak contracts settling at 72 locations. These contract locations include all of the hubs and zones currently offered in Nodal Exchange’s daily auction. In October, Nodal Exchange and LCH.Clearnet Ltd began offering contracts trading in the current month plus 32 months forward for these same 72 locations. In less than 7 months, Nodal Exchange and LCH.Clearnet Ltd have introduced 5,184 new tradable expiries in response to market demand.
Roger Liddell, Chief Executive Officer, LCH.Clearnet said: “As participation and enthusiasm for the service grows we will continue to introduce new contracts, offering participants increased liquidity and the ability to hedge positions more precisely.”
“We are very happy to be able to extend these expiries even further in order to meet the demand of our participants.” said Paul Cusenza, Chief Executive Officer of Nodal Exchange.
Nodal Exchange is the only market where the majority of these 144 extended expiry contracts can be centrally cleared. Nodal Exchange also offers over 1,700 additional locations (over 3,400 contracts) that can also only be central counterparty cleared on Nodal Exchange through LCH.Clearnet Ltd. Launched in April 2009, Nodal Exchange has successfully been trading across four regional markets: ISO-NE (ISO New England), NYISO (New York ISO), PJM (PJM Interconnection), and MISO (Midwest Independent Transmission System Operator).
LCH.Clearnet is the world’s leading independent clearing house group and has a long history of successfully managing credit risk through central counterparty clearing. LCH.Clearnet Ltd has continued its history of innovation through pioneering the clearing of nodal power contracts and the use of Value-at-Risk (VaR) based margining on Nodal Exchange.
