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Overview
Nodal Exchange is a derivatives market for North American energy, offering futures and options on power, natural gas, and environmental products to help participants hedge price, credit, and liquidity risks. It operates through a centralized clearing house, Nodal Clear, which clears all trades and uses portfolio margining to improve capital efficiency. A key differentiator is the nodal (locational) futures that hedge at specific points on the electricity grid, along with ownership of its clearing house and a broad catalog of contracts. The company aims to provide reliable risk management and liquidity for energy markets by expanding access and product offerings to support effective hedging and price discovery.
About Nodal Exchange
Industries
Energy
Enterprise Software
Quantitative Finance
Financial Services
Company Size
51-200
Company Stage
Early VC
Total Funding
$26.4M
Headquarters
Vienna, Virginia
Founded
2007
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Simplify's Take
What believers are saying
- June 2026 open interest reached 1.506 billion MWh, up 2% year over year.
- Nodal launched financially settled California carbon allowances on March 30, 2026.
- August 31, 2026 hourly power futures add 168 contracts across ERCOT and PJM.
What critics are saying
- Nodal delisted 32 power contracts on March 30, 2026 and two more on May 1.
- CFTC filings show dormant contracts; zero open interest signals weak product adoption.
- If EEX reallocates capital, Nodal loses backing against CME and ICE.
What makes Nodal Exchange unique
- Nodal Clear’s integrated clearing gives portfolio margining across exchange-traded energy derivatives.
- Nodal leads North American power futures with 56% open interest in June 2026.
- EEX ownership since 2017 links Nodal to Deutsche Börse’s distribution and data network.
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Funding
Total Funding
$26.4M
Above
Industry Average
Funded Over
1 Rounds
Benefits
Hybrid Work Options
Flexible Work Hours
Phone/Internet Stipend
Wellness Program
Mental Health Support
401(k) Retirement Plan
401(k) Company Match
Conference Attendance Budget
Family Planning Benefits
Fertility Treatment Support
Remote Work Options
Growth & Insights and Company News
6 month growth
↑ 15%1 year growth
↑ 15%2 year growth
↑ 15%Nodal Exchange and IncubEx expand environmental product suite with CORSIA, California and Massachusetts contracts. WASHINGTON & CHICAGO - Nodal Exchange, in collaboration with IncubEx, announced today the successful launch of several new environmental futures and options, including: CORSIA, California Carbon Offsets and Massachusetts CPEC contracts. "Nodal and IncubEx continue to look for ways to meet customer needs and this latest set of products illustrates that," said Paul Cusenza, CEO...
Nodal launches cash-settled California carbon contracts in push to broaden market access. Published 18:34 on March 30, 2026 / Last updated at 18:34 on March 30, 2026 / Americas (Compliance Markets & Taxes, US & Canada) Carbon Pulse Premium Nodal Exchange has launched the first financially-settled futures and options contracts tied to California Carbon Allowances (CCAs), marking a further expansion of derivatives offerings in North America's largest compliance carbon market.
Nodal Exchange has been named Commodity Exchange of the Year for the second year in a row by Energy Risk magazine.
WASHINGTON--(BUSINESS WIRE)--Nodal Exchange today announced new records in power and environmental futures. In power, Nodal set a calendar month record for April with traded power futures volume of 345 million MWh, up 13% from 306 million MWh in April 2023. This is the second highest month ever for Nodal Exchange, only surpassed by the 379 million MWh in February 2024. Nodal continues to be the market leader in North American power futures with 55% share of open interest at the end of April with 1.374 billion MWh open interest representing $128 billion of notional value based on both sides. Nodal posted the second-highest monthly volume ever in environmental markets of 48,865 lots, topping the prior record of 43,883 lots in April 2023 by 11%. Open interest in environmental products on Nodal Exchange reached a record high of 341,194 lots in April, up 34% from 255,418 at the end of April 2023
Deutsche Börse announces a collaboration with Nodal Exchange, a leading North American commodity derivatives exchange which is part of the EEX Group.
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About Nodal Exchange
Industries
Energy
Enterprise Software
Quantitative Finance
Financial Services
Company Size
51-200
Company Stage
Early VC
Total Funding
$26.4M
Headquarters
Vienna, Virginia
Founded
2007
Nodal Exchange is Hiring for 2 Jobs on Simplify!
Find jobs on Simplify and start your career today