Nodal Exchange announced a new monthly volume record for environmental markets with 64,562 lots traded of futures and options, surpassing the prior record by 25% set in May 2024 of 51,747 lots on Nodal Exchange. The traded volume in July 2024 was up 231% from July 2023. The product suite also posted an all-time high in open interest of 376,548 lots during July. With more than 41,000 lots physically delivered, open interest ended the month at 339,261 lots, up 40% from 242,344 lots from a year earlier.

Broken down further, open Interest in environmental options, including California Carbon Allowance (CCA) options and California Low Carbon Fuel Standard (LCFS) options reached a new record of 35,155 lots at month-end. Total futures and options open interest in LCFS products ended the month with a new open interest record of 61,049 lots.

Several other product groups also posted records in July. The traded volume in renewable energy certificates (RECs) totaled 34,489 lots, up 88% from 18,386 lots a year earlier. Open interest in REC contracts ended the month at 241,942 lots, up 18% from 204,926 lots a year earlier.