Nodal Exchange dominates the US power futures market with approximately 56% of open interest, representing about 1.5 billion MWh with a notional value exceeding $170 billion by mid-2026. CME Group plans to launch cash-settled GPU compute futures on October 5, 2026, targeting rental indices for Nvidia’s H100 and B200 chips. ICE has taken a partnership-driven approach, collaborating with companies like Ornn and NATIVX to develop compute price indices that could underpin their own futures products in 2026. Nodal launched 46 daily power futures contracts on February 2, 2026 and is set to introduce 168 hourly contracts on August 31, 2026, spanning seven hubs across ERCOT and PJM regions.
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