23-021

July 21, 2023

VIA PORTAL

Commodity Futures Trading Commission

Attention: Christopher Kirkpatrick, Secretary

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: CFTC Regulation 40.6(a) Certification: Submission of Amendments to the 

Nodal Exchange delivery schedule and last trading day for Nodal Contracts, 

based on environmental products, with December 2023 expiries.

Dear Mr. Kirkpatrick:

Nodal Exchange, LLC (“Nodal Exchange” or “Exchange”) is notifying the Commodity Futures 

Trading Commission (“CFTC” or “Commission”) that it is self-certifying amendments to the 

delivery schedule and last trading day for December 2023 futures expiries of Nodal 

Contracts based on environmental products pursuant to Commission Regulation 40.6(a).

The Exchange intends to implement the amended delivery schedule and last trading day in 

10 business days.

All of Nodal's environmental contracts are physically delivered and no other Nodal contract 

is physically delivered. Therefore, this amendment is specific to all physically delivered 

Nodal contracts, which is the same as all Nodal environmental contracts. A full list of the 

impacted contracts is attached as Exhibit A. Typically, the delivery day for physically 

delivered contracts is the last business day of the month and the last trading day is three 

business days prior to the delivery day. For December 2023, the last business day of the 

month is Friday December 29, 2023. To accommodate Nodal Participants and Clearing 

Members with delivery obligations, Nodal Exchange is amending the delivery schedule for 

December 2023 futures expiries. Nodal Exchange will remain open for business on 

December 29, 2023, but will not treat December 29, 2023, as a business day for delivery 

purposes. Therefore, the delivery day for December 2023 futures expiries of Nodal 

Contracts based on environmental products will be changed from Friday December 29, 

2023, to Thursday December 28, 2023. In addition, the last trading day for December 2023

futures expiries of Nodal Contracts based on environmental products will be changed to 

December 22, 2023, to maintain the last trading day as three business days prior to the 

delivery day. 
23-021

The amendment to the delivery day is to accommodate Nodal Participants and Nodal 

Clearing Members who have delivery obligations and prefer the delivery day to be moved 

up one day to accommodate their holiday schedules. Since the amendment is specific to 

only December 2023 expiries, Nodal will not alter the contract specs for this amendment. 

Exchange management has assessed the amendments to the delivery schedule and last 

trading day, and their compliance with applicable provisions of the Act, including the 

Commissions Regulations and the Core Principles. Nodal Exchange has identified that the 

amendments may affect the following Core Principles as follows:

Core Principle 2 - Compliance with the Rules: The amendments to the Rules provide clarity 

and consistency with the Act for compliance with the Rules. 

Core Principle 7 – Availability of General Information: The amendments to the delivery day

and last trading day, provide clarity to Exchange Participants. This notification is available 

to market authorities, Participants, Authorized Brokers and the public on the Exchange 

website.

Pursuant to Section 5c(c) of the Act and the Commission’s Regulation 40.6, the Exchange 

certifies that the amended delivery schedule and last trading day comply with the Act and 

the Commission’s Regulations thereunder. There have not been any opposing views 

expressed regarding the amendments to the delivery schedule and last trading day.

Nodal Exchange certifies that this submission has been concurrently posted on the Nodal 

Exchange website at www.nodalexchange.com.

If you have any question or need additional information regarding this submission, please 

contact me at 703-962-9853 or Markotic@nodalexchange.com.

Sincerely,

/s/ Max Markotic

Managing Director

Attachments:

• Exhibit A – Nodal Environmental Contracts with December 2023 delivery