Page 1 of 3

21-028.19

September 1, 2021

VIA CFTC PORTAL

Commodity Futures Trading Commission

Attention: Chris Kirkpatrick, Secretary

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: CFTC Regulation 40.2(a) Certification: Notification of Product Offered for 

Trading on Nodal Exchange, LLC – NAR Registered Renewable Energy Certificates 

from CRS Listed Wind Energy Facilities - Vintage 2027 Back Half Future

Dear Mr. Kirkpatrick:

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

Trading Commission (“CFTC” or “Commission”) that pursuant to Commission Regulation 

40.2(a), the Exchange is self-certifying the listing of 70 new environmental futures and 5 new 

environmental options contracts for trading on Nodal Exchange beginning on or after

September 8, 2021. The contract specifications describing these new Exchange futures and 

options contracts are attached to this letter as Exhibit A, to be added to the Nodal Exchange 

Rulebook Appendix A – Contract Specifications. The deliverable supply analysis has been 

segregated as Exhibit B, for which confidential treatment is requested. The reporting levels, 

accountability levels, and position limits for these contracts is attached to this letter as 

Exhibit C, which will be added to the Nodal Exchange Rulebook Appendix C - Reporting 

Levels, Accountability Levels and Position Limits.

Exchange management has assessed the Exchange’s contracts’ compliance with applicable 

provisions of the Commodity Exchange Act (“Act”), including the Commissions Regulations 

thereunder and the Core Principles. Regulatory compliance of Nodal Exchange’s futures and 

options contracts is mostly addressed in the Nodal Exchange Rulebook, concisely explained 

as follows:

Core Principle 2 - Compliance with the Rules: Trading in the Exchange’s contracts will be 

subject to the Nodal Exchange Rulebook in Section IV, describing trading procedures, and 

Section VI, which establishes trading codes of conduct, sound trading practices, and 

identifies prohibited trading behavior and abuses. In addition, trading behavior and activity 

will be subject to extensive monitoring and surveillance by the Exchange’s Division of Market 

Administration and Surveillance. The Exchange’s Compliance Department has the authority 
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21-028.19

to address disciplinary matters through investigation and enforcement procedures in 

accordance with Section VII of the Exchange Rulebook.

Core Principle 3 - Contracts not Readily Susceptible to Manipulation: A description of the 

underlying cash markets and deliverable supply analysis for the Exchange’s new contracts is 

provided in attached Exhibit B, which demonstrates compliance that the Exchange’s new 

contracts are not readily susceptible to manipulation.

Core Principle 4 - Prevention of Market Disruption: Trading in the Exchange’s contracts will 

be subject to the Nodal Exchange Rulebook Section VI, which prohibits disruptive trading 

behavior and manipulation, subject to monitoring and surveillance by the Exchange’s 

Division of Market Administration and Surveillance.

Core Principle 5 - Position Limitations or Accountability: The spot-month speculative 

position limits for the Exchange’s contracts are set at less than 25% of the deliverable supply 

in the respective underlying market. In addition, the Exchange monitors and enforces

position accountability rules for individual single-month and all-months combined, which 

are also within 25% of deliverable supply. The new contract reporting levels, accountability 

levels and position limits are provided in attached Exhibit C, to be added to the Nodal 

Exchange Rulebook Appendix C – Reporting Levels, Position Accountability Levels and 

Position Limits.

Core Principle 7 - Availability of General Information: The Exchange will post general 

information, including the contract specifications for the new contracts, Exchange fees, and 

the Nodal Exchange Rulebook, on the Exchange’s website: www.nodalexchange.com.

Core Principle 8 - Daily publication of Trading Information: The Exchange will publish daily 

information on settlement prices, volume, open interest and opening and closing ranges for 

the Exchange’s actively traded contracts on its website.

Core Principle 9 - Execution of Transactions: The Exchange’s new contracts will be available 

on the Exchange’s electronic trading screen that is a central limit order book (“CLOB”). The 

CLOB provides the market with the ability to execute the Exchange’s contracts from the 

interaction of multiple bids and multiple offers within a predetermined, nondiscretionary 

automated trade matching and execution algorithm. 

Core Principle 10 - Trade Information: The CLOB will maintain all information with respect 

to each order and each consummated trade, as well as all other information relating to the 

trade environment that determines the matching and clearing of trades. As such, any order 

submitted to the CLOB can be tracked from the time it is entered into the system until the 

time that it is matched, canceled or otherwise removed.

Core Principle 11 - Financial Integrity of Transactions: The Exchange has entered into a 

clearing arrangement with Nodal Clear, a derivatives clearing organization subject to Part 
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21-028.19

39 of the Commission Regulations. The new contracts executed on the CLOB or as a block 

trade will be subject to the Exchange Rulebook provisions for submission to Nodal Clear for 

clearing as described in Section V. 

Core Principle 12 - Protection of Markets and Market Participants: Section VI of the Nodal 

Exchange Rulebook protects the market and market participants from abusive, disruptive, 

fraudulent, noncompetitive and unfair conduct and trade practices. The new contracts are 

subject to these rules that apply to all transactions in the Exchange’s contracts.

Core Principle 13 - Disciplinary Procedures: Section VII of the Nodal Exchange Rulebook

describes the disciplinary procedures of the Exchange that authorize the Exchange to 

discipline, suspend, or expel anyone on the Exchange that violates these rules. 

Core Principle 14 - Dispute Resolution: Section VIII of the Nodal Exchange Rulebook

establishes rules concerning alternative dispute resolution, which provide for the resolution 

of disputes between or among Exchange users through the NFA arbitration program. Under 

Section VIII, arbitration is available for all disputes, controversies or claims among all 

Exchange users relating to Exchange activities. 

Pursuant to Section 5c(c) of the Act and the Commission’s Regulation 40.2(a), the Exchange 

certifies that the Exchange’s new futures and options contracts to be listed comply with the 

Act and the Commission’s Regulations thereunder.

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 the above, please 

contact the undersigned at 703-962-9853 or markotic@nodalexchange.com or Anita 

Herrera, Chief Regulatory Officer & General Counsel at 703-962-9835 or 

Herrera@nodalexchange.com.

Sincerely,

/s/ Max Markotic

Director of Compliance

Attachments:

Exhibit A: September 8, 2021 Addition to Nodal Exchange Appendix A - Contract 

Specifications

Confidential Exhibit B: Deliverable Supply Analysis (Confidential Treatment Requested)

Exhibit C: September 8, 2021 Addition to Nodal Exchange Appendix C - Reporting Levels, 

Accountability Levels and Position Limits
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Maryland Compliance Renewable Energy Certificate Tier 2 Vintage 2020

Future

ITEM SPECIFICATION

Contract Description

Physically delivered Maryland Tier 2 Renewable Energy Certificate (“Maryland Tier 2

REC”) where a REC is an electronic certificate issued by PJM GATS for qualifying

generation.

Contract Code MHD

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 qualifying Tier 2 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

February of the year following the vintage year, plus one additional February. The

exchange may list any other calendar month contract set off the standard listing cycle

for up to 10 years.

Deliverable Product

Maryland Tier 2 RECs eligible for delivery are those which are eligible to meet the Tier

2 renewable energy requirement (as defined in the Maryland Renewable Energy

Portfolio Standard promulgated under 7-701 of the Public Utilities Article of the

Annotated Code of Maryland and issued by PJM GATS having a vintage or energy year

designation that corresponds to the specified vintage of the expiring contract.

Registry PJM-EIS Generation Attribute Tracking System (PJM GATS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 13600 lots, Single Month Accountability Level: 13600 lots, All Month

Accountability Level: 13600 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Maryland Compliance Renewable Energy Certificate Tier 2 Vintage 2021

Future

ITEM SPECIFICATION

Contract Description

Physically delivered Maryland Tier 2 Renewable Energy Certificate (“Maryland Tier 2

REC”) where a REC is an electronic certificate issued by PJM GATS for qualifying

generation.

Contract Code MHE

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 qualifying Tier 2 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

February of the year following the vintage year, plus one additional February. The

exchange may list any other calendar month contract set off the standard listing cycle

for up to 10 years.

Deliverable Product

Maryland Tier 2 RECs eligible for delivery are those which are eligible to meet the Tier

2 renewable energy requirement (as defined in the Maryland Renewable Energy

Portfolio Standard promulgated under 7-701 of the Public Utilities Article of the

Annotated Code of Maryland and issued by PJM GATS having a vintage or energy year

designation that corresponds to the specified vintage of the expiring contract.

Registry PJM-EIS Generation Attribute Tracking System (PJM GATS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 13600 lots, Single Month Accountability Level: 13600 lots, All Month

Accountability Level: 13600 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Maryland Compliance Renewable Energy Certificate Tier 2 Vintage 2022

Future

ITEM SPECIFICATION

Contract Description

Physically delivered Maryland Tier 2 Renewable Energy Certificate (“Maryland Tier 2

REC”) where a REC is an electronic certificate issued by PJM GATS for qualifying

generation.

Contract Code MHF

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 qualifying Tier 2 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

February of the year following the vintage year, plus one additional February. The

exchange may list any other calendar month contract set off the standard listing cycle

for up to 10 years.

Deliverable Product

Maryland Tier 2 RECs eligible for delivery are those which are eligible to meet the Tier

2 renewable energy requirement (as defined in the Maryland Renewable Energy

Portfolio Standard promulgated under 7-701 of the Public Utilities Article of the

Annotated Code of Maryland and issued by PJM GATS having a vintage or energy year

designation that corresponds to the specified vintage of the expiring contract.

Registry PJM-EIS Generation Attribute Tracking System (PJM GATS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 13600 lots, Single Month Accountability Level: 13600 lots, All Month

Accountability Level: 13600 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Maryland Compliance Renewable Energy Certificate Tier 2 Vintage 2023

Future

ITEM SPECIFICATION

Contract Description

Physically delivered Maryland Tier 2 Renewable Energy Certificate (“Maryland Tier 2

REC”) where a REC is an electronic certificate issued by PJM GATS for qualifying

generation.

Contract Code MHG

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 qualifying Tier 2 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

February of the year following the vintage year, plus one additional February. The

exchange may list any other calendar month contract set off the standard listing cycle

for up to 10 years.

Deliverable Product

Maryland Tier 2 RECs eligible for delivery are those which are eligible to meet the Tier

2 renewable energy requirement (as defined in the Maryland Renewable Energy

Portfolio Standard promulgated under 7-701 of the Public Utilities Article of the

Annotated Code of Maryland and issued by PJM GATS having a vintage or energy year

designation that corresponds to the specified vintage of the expiring contract.

Registry PJM-EIS Generation Attribute Tracking System (PJM GATS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 13600 lots, Single Month Accountability Level: 13600 lots, All Month

Accountability Level: 13600 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Maryland Compliance Renewable Energy Certificate Tier 2 Vintage 2024

Future

ITEM SPECIFICATION

Contract Description

Physically delivered Maryland Tier 2 Renewable Energy Certificate (“Maryland Tier 2

REC”) where a REC is an electronic certificate issued by PJM GATS for qualifying

generation.

Contract Code MHH

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 qualifying Tier 2 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

February of the year following the vintage year, plus one additional February. The

exchange may list any other calendar month contract set off the standard listing cycle

for up to 10 years.

Deliverable Product

Maryland Tier 2 RECs eligible for delivery are those which are eligible to meet the Tier

2 renewable energy requirement (as defined in the Maryland Renewable Energy

Portfolio Standard promulgated under 7-701 of the Public Utilities Article of the

Annotated Code of Maryland and issued by PJM GATS having a vintage or energy year

designation that corresponds to the specified vintage of the expiring contract.

Registry PJM-EIS Generation Attribute Tracking System (PJM GATS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 13600 lots, Single Month Accountability Level: 13600 lots, All Month

Accountability Level: 13600 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Maryland Compliance Renewable Energy Certificate Tier 2 Vintage 2025Future

ITEM SPECIFICATION

Contract Description

Physically delivered Maryland Tier 2 Renewable Energy Certificate (“Maryland Tier 2

REC”) where a REC is an electronic certificate issued by PJM GATS for qualifying

generation.

Contract Code MHI

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 qualifying Tier 2 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

February of the year following the vintage year, plus one additional February. The

exchange may list any other calendar month contract set off the standard listing cycle

for up to 10 years.

Deliverable Product

Maryland Tier 2 RECs eligible for delivery are those which are eligible to meet the Tier

2 renewable energy requirement (as defined in the Maryland Renewable Energy

Portfolio Standard promulgated under 7-701 of the Public Utilities Article of the

Annotated Code of Maryland and issued by PJM GATS having a vintage or energy year

designation that corresponds to the specified vintage of the expiring contract.

Registry PJM-EIS Generation Attribute Tracking System (PJM GATS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 13600 lots, Single Month Accountability Level: 13600 lots, All Month

Accountability Level: 13600 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Maine Renewable Energy Certificate Class 2 Vintage 2021 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Maine Class II Renewable Energy Certificates (Maine Class II REC)

where a Maine Class II REC is an electronic certificate issued by the NEPOOL GIS for

qualifying generation.

Contract Code MQE

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 Maine Class II RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

July, August, October, November of the vintage year. January, February, April, Mayof 

the year following the vintage year. The exchange may list any other calendar month

contract set off the standard listing cycle for up to 10 years.

Deliverable Product

Maine Class II RECs eligible for delivery are those representing Class II renewable

resources (defined in Code of Maine Rules (CMR) 65-407, c.311, §4) eligible to meet

the Class II requirement of the Maine Renewable Resource Portfolio Requirement

promulgated under Code of Maine Rules (CMR) 65-407, c.311 and issued by NEPOOL

GIS having a vintage or energy year designation that corresponds to the specified

vintage of the expiring contract.

Registry New England Power Pool Generation Information System (NEPOOL GIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 30339 lots, Single Month Accountability Level: 30339 lots, All Month

Accountability Level: 30339 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Maine Renewable Energy Certificate Class 2 Vintage 2022 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Maine Class II Renewable Energy Certificates (Maine Class II REC)

where a Maine Class II REC is an electronic certificate issued by the NEPOOL GIS for

qualifying generation.

Contract Code MQF

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 Maine Class II RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

July, August, October, November of the vintage year. January, February, April, Mayof 

the year following the vintage year. The exchange may list any other calendar month

contract set off the standard listing cycle for up to 10 years.

Deliverable Product

Maine Class II RECs eligible for delivery are those representing Class II renewable

resources (defined in Code of Maine Rules (CMR) 65-407, c.311, §4) eligible to meet

the Class II requirement of the Maine Renewable Resource Portfolio Requirement

promulgated under Code of Maine Rules (CMR) 65-407, c.311 and issued by NEPOOL

GIS having a vintage or energy year designation that corresponds to the specified

vintage of the expiring contract.

Registry New England Power Pool Generation Information System (NEPOOL GIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 30339 lots, Single Month Accountability Level: 30339 lots, All Month

Accountability Level: 30339 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Maine Renewable Energy Certificate Class 2 Vintage 2023 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Maine Class II Renewable Energy Certificates (Maine Class II REC)

where a Maine Class II REC is an electronic certificate issued by the NEPOOL GIS for

qualifying generation.

Contract Code MQG

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 Maine Class II RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

July, August, October, November of the vintage year. January, February, April, Mayof 

the year following the vintage year. The exchange may list any other calendar month

contract set off the standard listing cycle for up to 10 years.

Deliverable Product

Maine Class II RECs eligible for delivery are those representing Class II renewable

resources (defined in Code of Maine Rules (CMR) 65-407, c.311, §4) eligible to meet

the Class II requirement of the Maine Renewable Resource Portfolio Requirement

promulgated under Code of Maine Rules (CMR) 65-407, c.311 and issued by NEPOOL

GIS having a vintage or energy year designation that corresponds to the specified

vintage of the expiring contract.

Registry New England Power Pool Generation Information System (NEPOOL GIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 30339 lots, Single Month Accountability Level: 30339 lots, All Month

Accountability Level: 30339 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Maine Renewable Energy Certificate Class 2 Vintage 2024 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Maine Class II Renewable Energy Certificates (Maine Class II REC)

where a Maine Class II REC is an electronic certificate issued by the NEPOOL GIS for

qualifying generation.

Contract Code MQH

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 Maine Class II RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

July, August, October, November of the vintage year. January, February, April, Mayof 

the year following the vintage year. The exchange may list any other calendar month

contract set off the standard listing cycle for up to 10 years.

Deliverable Product

Maine Class II RECs eligible for delivery are those representing Class II renewable

resources (defined in Code of Maine Rules (CMR) 65-407, c.311, §4) eligible to meet

the Class II requirement of the Maine Renewable Resource Portfolio Requirement

promulgated under Code of Maine Rules (CMR) 65-407, c.311 and issued by NEPOOL

GIS having a vintage or energy year designation that corresponds to the specified

vintage of the expiring contract.

Registry New England Power Pool Generation Information System (NEPOOL GIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 30339 lots, Single Month Accountability Level: 30339 lots, All Month

Accountability Level: 30339 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Maine Renewable Energy Certificate Class 2 Vintage 2025 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Maine Class II Renewable Energy Certificates (Maine Class II REC)

where a Maine Class II REC is an electronic certificate issued by the NEPOOL GIS for

qualifying generation.

Contract Code MQI

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 Maine Class II RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

July, August, October, November of the vintage year. January, February, April, Mayof 

the year following the vintage year. The exchange may list any other calendar month

contract set off the standard listing cycle for up to 10 years.

Deliverable Product

Maine Class II RECs eligible for delivery are those representing Class II renewable

resources (defined in Code of Maine Rules (CMR) 65-407, c.311, §4) eligible to meet

the Class II requirement of the Maine Renewable Resource Portfolio Requirement

promulgated under Code of Maine Rules (CMR) 65-407, c.311 and issued by NEPOOL

GIS having a vintage or energy year designation that corresponds to the specified

vintage of the expiring contract.

Registry New England Power Pool Generation Information System (NEPOOL GIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 30339 lots, Single Month Accountability Level: 30339 lots, All Month

Accountability Level: 30339 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2020 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NKD

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2021 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NKE

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2022 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NKF

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind

energy production from facilities that have a Tracking Attestation form on file with

the Center for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2023 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NKG

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2024 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NKH

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2025 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NKI

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind

energy production from facilities that have a Tracking Attestation form on file with

the Center for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2026 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NKJ

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2027 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NKK

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2028 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NKL

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind

energy production from facilities that have a Tracking Attestation form on file with

the Center for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2029 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NKM

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2030 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NKN

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2020 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NLD

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind

energy production from facilities that have a Tracking Attestation form on file with

the Center for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2021 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NLE

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2022 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NLF

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2023 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NLG

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind

energy production from facilities that have a Tracking Attestation form on file with

the Center for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2024 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NLH

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2025 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NLI

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2026 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NLJ

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2027 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NLK

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2028 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NLL

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind

energy production from facilities that have a Tracking Attestation form on file with

the Center for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2029 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NLM

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Wind EnergyFacilities

- Vintage 2030 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying wind energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NLN

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying wind energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 6695 lots, Single Month Accountability Level: 6695 lots, All Month

Accountability Level: 6695 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

New Jersey Solar Renewable Energy Certificate Vintage 2028 Future

ITEM SPECIFICATION

Contract Description

Physically delivered New Jersey Solar Renewable Energy Certificates (“New Jersey

SREC”) where a SREC is an electronic certificate issued by the PJM Environmental

Information System Generation Attribute Tracking System (“PJM GATS”) for qualifying

generation.

Contract Code NSL

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 10 MWh representing 10 New Jersey SRECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with September of the year prior to the vintage year,

through August of two years after the Vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle for up to 4 years.

Deliverable Product

New Jersey SRECs eligible for delivery are those which are eligible to meet the SREC

requirements specified in N.J.A.C. 14:8-2-3 under the New Jersey Renewable Energy

Portfolio Standard promulgated under N.J.A.C. 14:8 verified and qualified by the NJ

Board of Public Utilities having an Energy Year designation that corresponds to the

specified Energy Year of the expiring contract.

Registry PJM-EIS Generation Attribute Tracking System (PJM GATS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 69,600 lots, Single Month Accountability Level: 41,100 lots, All Month

Accountability Level: 41,100 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

New Jersey Solar Renewable Energy Certificate Vintage 2029 Future

ITEM SPECIFICATION

Contract Description

Physically delivered New Jersey Solar Renewable Energy Certificates (“New Jersey

SREC”) where a SREC is an electronic certificate issued by the PJM Environmental

Information System Generation Attribute Tracking System (“PJM GATS”) for qualifying

generation.

Contract Code NSM

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 10 MWh representing 10 New Jersey SRECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with September of the year prior to the vintage year,

through August of two years after the Vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle for up to 4 years.

Deliverable Product

New Jersey SRECs eligible for delivery are those which are eligible to meet the SREC

requirements specified in N.J.A.C. 14:8-2-3 under the New Jersey Renewable Energy

Portfolio Standard promulgated under N.J.A.C. 14:8 verified and qualified by the NJ

Board of Public Utilities having an Energy Year designation that corresponds to the

specified Energy Year of the expiring contract.

Registry PJM-EIS Generation Attribute Tracking System (PJM GATS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 57,100 lots, Single Month Accountability Level: 41,100 lots, All Month

Accountability Level: 41,100 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

New Jersey Solar Renewable Energy Certificate Vintage 2030 Future

ITEM SPECIFICATION

Contract Description

Physically delivered New Jersey Solar Renewable Energy Certificates (“New Jersey

SREC”) where a SREC is an electronic certificate issued by the PJM Environmental

Information System Generation Attribute Tracking System (“PJM GATS”) for

qualifying generation.

Contract Code NSN

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 10 MWh representing 10 New Jersey SRECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with September of the year prior to the vintage year,

through August of two years after the Vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle for up to 4 years.

Deliverable Product

New Jersey SRECs eligible for delivery are those which are eligible to meet the SREC

requirements specified in N.J.A.C. 14:8-2-3 under the New Jersey Renewable Energy

Portfolio Standard promulgated under N.J.A.C. 14:8 verified and qualified by the NJ

Board of Public Utilities having an Energy Year designation that corresponds to the

specified Energy Year of the expiring contract.

Registry PJM-EIS Generation Attribute Tracking System (PJM GATS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 41,000 lots, Single Month Accountability Level: 41,100 lots, All Month

Accountability Level: 41,100 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2020 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NUD

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2021 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NUE

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar

energy production from facilities that have a Tracking Attestation form on file with

the Center for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2022 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NUF

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2023 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NUG

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2024 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NUH

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar

energy production from facilities that have a Tracking Attestation form on file with

the Center for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2025 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NUI

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2026 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NUJ

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2027 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NUK

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar

energy production from facilities that have a Tracking Attestation form on file with

the Center for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2028 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NUL

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2029 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NUM

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2030 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NUN

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar

energy production from facilities that have a Tracking Attestation form on file with

the Center for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2020 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NVD

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2021 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NVE

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2022 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NVF

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar

energy production from facilities that have a Tracking Attestation form on file with

the Center for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2023 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NVG

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2024 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NVH

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2025 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NVI

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar

energy production from facilities that have a Tracking Attestation form on file with

the Center for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2026 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NVJ

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2027 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NVK

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2028 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NVL

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar

energy production from facilities that have a Tracking Attestation form on file with

the Center for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2029 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NVM

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

NAR Registered Renewable Energy Certificates from CRS Listed Solar EnergyFacilities

- Vintage 2030 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (REC) issued by the North

American Renewables RegistryTM (NAR) for qualifying solar energy production from

facilities which are listed with the Center for Resource Solutions (CRS) as an elementof

CRS’ administration of its Green-e® certification program.

Contract Code NVN

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs delivered must be issued by and delivered within NAR for qualifying solar energy

production from facilities that have a Tracking Attestation form on file withthe Center

for Resource Solutions (“CRS Listed”) in connection with CRS’s

administration of its Green-e® certification programs. The Tracking Attestation form

must cover the generation period of the RECs. Maintenance of an active Tracking

Attestation form does not guarantee that a facility meets the requirements of any

Green-e® renewable energy standards and does not mean that a facility’s supply is

Green-e® Certified. For more information about Tracking Attestation forms and

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the first six calendar months of the specified

vintage year.

Registry North American Renewables RegistryTM (NAR)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 516 lots, Single Month Accountability Level: 516 lots, All Month

Accountability Level: 516 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Texas Compliance Renewable Energy Certificate from CRS Listed FacilitiesVintage

2033 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by

the ERCOT Renewables Registry for qualifying wind energy production from facilities

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’

administration of its Green-e® certification program.

Contract Code TBQ

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those which are eligible to meet the REC

requirements specified in the Public Utility Commission of Texas Substantive Rule

Chapter 25, Subchapter H, Division 1 under the renewable energy trading program,

having been generated from wind energy production technology. REC Offsets are not

deliverable. RECs delivered must be from facilities that have a Tracking Attestation

form on file with the Center for Resource Solutions (“CRS Listed”), in connection with

CRS’s administration of its Green-e® certification programs. The Tracking Attestation

form must cover the generation period of the RECs. Maintenance of an active Tracking 

Attestation form does not guarantee that a facility meets the requirements of any 

Green-e® renewable energy standards and does not mean that a facility’s supply is 

Green-e® Certified. For more information about Tracking Attestation forms and 

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Back Half or BH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified vintage

year.

Registry ERCOT Renewables Registry

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 11541 lots, Single Month Accountability Level: 11541 lots, All Month

Accountability Level: 11541 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Texas Compliance Renewable Energy Certificate from CRS Listed FacilitiesVintage

2033 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by

the ERCOT Renewables Registry for qualifying wind energy production from facilities

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’

administration of its Green-e® certification program.

Contract Code TFQ

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those which are eligible to meet the REC

requirements specified in the Public Utility Commission of Texas Substantive Rule

Chapter 25, Subchapter H, Division 1 under the renewable energy trading program,

having been generated from wind energy production technology. REC Offsets are not

deliverable. RECs delivered must be from facilities that have a Tracking Attestation

form on file with the Center for Resource Solutions (“CRS Listed”), in connection with

CRS’s administration of its Green-e® certification programs. The Tracking Attestation

form must cover the generation period of the RECs. Maintenance of an active Tracking 

Attestation form does not guarantee that a facility meets the requirements of any 

Green-e® renewable energy standards and does not mean that a facility’s supply is 

Green-e® Certified. For more information about Tracking Attestation forms and 

Green-e® certification, please visit the Green-e® website at www.green-e.org. To

confirm that a facility has an active Tracking Attestation form on file, please contact

the Center for Resource Solutions at verification@green-e.org. For contracts which

are designated as Front Half or FH, RECs acceptable for delivery are those that were

issued for generation occurring in the last six calendar months of the specified vintage

year.

Registry ERCOT Renewables Registry

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 11541 lots, Single Month Accountability Level: 11541 lots, All Month

Accountability Level: 11541 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

California PCC 3 REC Vintage 2021 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (RECs) issued by the Western

Renewable Energy Generation Information System (WREGIS) for qualifying

production that satisfies the Portfolio Content Category (PCC) 3 for Unbundled

Renewable Energy Credits as defined in California Public Utility Commission decision

11-12-052 and California Public Utility Code §399.16

Contract Code WAE

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with March of the corresponding vintage year through

June of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs eligible for delivery are those eligible to satisfy the Portfolio Content Category

(PCC) 3 for Unbundled Renewable Energy Credits as defined in the California Public

Utility Commission decision 11-12-052 and California Public Utility Code §399.16 and

issued by WREGIS having a vintage or energy year designation that corresponds to

the specified vintage of the expiring contract.

Registry Western Renewable Energy Generation Information System (WREGIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 24800 lots, Single Month Accountability Level: 24800 lots, All Month

Accountability Level: 24800 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

California PCC 3 REC Vintage 2022 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (RECs) issued by the Western

Renewable Energy Generation Information System (WREGIS) for qualifying

production that satisfies the Portfolio Content Category (PCC) 3 for Unbundled

Renewable Energy Credits as defined in California Public Utility Commission decision

11-12-052 and California Public Utility Code §399.16

Contract Code WAF

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with March of the corresponding vintage year through

June of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs eligible for delivery are those eligible to satisfy the Portfolio Content Category

(PCC) 3 for Unbundled Renewable Energy Credits as defined in the California Public

Utility Commission decision 11-12-052 and California Public Utility Code §399.16 and

issued by WREGIS having a vintage or energy year designation that corresponds to

the specified vintage of the expiring contract.

Registry Western Renewable Energy Generation Information System (WREGIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 26700 lots, Single Month Accountability Level: 26700 lots, All Month

Accountability Level: 26700 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

California PCC 3 REC Vintage 2023 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (RECs) issued by the Western

Renewable Energy Generation Information System (WREGIS) for qualifying

production that satisfies the Portfolio Content Category (PCC) 3 for Unbundled

Renewable Energy Credits as defined in California Public Utility Commission decision

11-12-052 and California Public Utility Code §399.16

Contract Code WAG

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with March of the corresponding vintage year through

June of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs eligible for delivery are those eligible to satisfy the Portfolio Content Category

(PCC) 3 for Unbundled Renewable Energy Credits as defined in the California Public

Utility Commission decision 11-12-052 and California Public Utility Code §399.16 and

issued by WREGIS having a vintage or energy year designation that corresponds to

the specified vintage of the expiring contract.

Registry Western Renewable Energy Generation Information System (WREGIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 28600 lots, Single Month Accountability Level: 28600 lots, All Month

Accountability Level: 28600 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

California PCC 3 REC Vintage 2024 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (RECs) issued by the Western

Renewable Energy Generation Information System (WREGIS) for qualifying

production that satisfies the Portfolio Content Category (PCC) 3 for Unbundled

Renewable Energy Credits as defined in California Public Utility Commission decision

11-12-052 and California Public Utility Code §399.16

Contract Code WAH

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with March of the corresponding vintage year through

June of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs eligible for delivery are those eligible to satisfy the Portfolio Content Category

(PCC) 3 for Unbundled Renewable Energy Credits as defined in the California Public

Utility Commission decision 11-12-052 and California Public Utility Code §399.16 and

issued by WREGIS having a vintage or energy year designation that corresponds to

the specified vintage of the expiring contract.

Registry Western Renewable Energy Generation Information System (WREGIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 30500 lots, Single Month Accountability Level: 30500 lots, All Month

Accountability Level: 30500 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

California PCC 3 REC Vintage 2025 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (RECs) issued by the Western

Renewable Energy Generation Information System (WREGIS) for qualifying

production that satisfies the Portfolio Content Category (PCC) 3 for Unbundled

Renewable Energy Credits as defined in California Public Utility Commission decision

11-12-052 and California Public Utility Code §399.16

Contract Code WAI

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with March of the corresponding vintage year through

June of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs eligible for delivery are those eligible to satisfy the Portfolio Content Category

(PCC) 3 for Unbundled Renewable Energy Credits as defined in the California Public

Utility Commission decision 11-12-052 and California Public Utility Code §399.16 and

issued by WREGIS having a vintage or energy year designation that corresponds to

the specified vintage of the expiring contract.

Registry Western Renewable Energy Generation Information System (WREGIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 32300 lots, Single Month Accountability Level: 32300 lots, All Month

Accountability Level: 32300 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

California PCC 3 REC Vintage 2026 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (RECs) issued by the Western

Renewable Energy Generation Information System (WREGIS) for qualifying

production that satisfies the Portfolio Content Category (PCC) 3 for Unbundled

Renewable Energy Credits as defined in California Public Utility Commission decision

11-12-052 and California Public Utility Code §399.16

Contract Code WAJ

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with March of the corresponding vintage year through

June of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs eligible for delivery are those eligible to satisfy the Portfolio Content Category

(PCC) 3 for Unbundled Renewable Energy Credits as defined in the California Public

Utility Commission decision 11-12-052 and California Public Utility Code §399.16 and

issued by WREGIS having a vintage or energy year designation that corresponds to

the specified vintage of the expiring contract.

Registry Western Renewable Energy Generation Information System (WREGIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 34200 lots, Single Month Accountability Level: 34200 lots, All Month

Accountability Level: 34200 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

California PCC 3 REC Vintage 2027 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (RECs) issued by the Western

Renewable Energy Generation Information System (WREGIS) for qualifying

production that satisfies the Portfolio Content Category (PCC) 3 for Unbundled

Renewable Energy Credits as defined in California Public Utility Commission decision

11-12-052 and California Public Utility Code §399.16

Contract Code WAK

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with March of the corresponding vintage year through

June of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs eligible for delivery are those eligible to satisfy the Portfolio Content Category

(PCC) 3 for Unbundled Renewable Energy Credits as defined in the California Public

Utility Commission decision 11-12-052 and California Public Utility Code §399.16 and

issued by WREGIS having a vintage or energy year designation that corresponds to

the specified vintage of the expiring contract.

Registry Western Renewable Energy Generation Information System (WREGIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 36100 lots, Single Month Accountability Level: 36100 lots, All Month

Accountability Level: 36100 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

California PCC 3 REC Vintage 2028 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (RECs) issued by the Western

Renewable Energy Generation Information System (WREGIS) for qualifying

production that satisfies the Portfolio Content Category (PCC) 3 for Unbundled

Renewable Energy Credits as defined in California Public Utility Commission decision

11-12-052 and California Public Utility Code §399.16

Contract Code WAL

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with March of the corresponding vintage year through

June of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs eligible for delivery are those eligible to satisfy the Portfolio Content Category

(PCC) 3 for Unbundled Renewable Energy Credits as defined in the California Public

Utility Commission decision 11-12-052 and California Public Utility Code §399.16 and

issued by WREGIS having a vintage or energy year designation that corresponds to

the specified vintage of the expiring contract.

Registry Western Renewable Energy Generation Information System (WREGIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 37900 lots, Single Month Accountability Level: 37900 lots, All Month

Accountability Level: 37900 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

California PCC 3 REC Vintage 2029 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (RECs) issued by the Western

Renewable Energy Generation Information System (WREGIS) for qualifying

production that satisfies the Portfolio Content Category (PCC) 3 for Unbundled

Renewable Energy Credits as defined in California Public Utility Commission decision

11-12-052 and California Public Utility Code §399.16

Contract Code WAM

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with March of the corresponding vintage year through

June of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs eligible for delivery are those eligible to satisfy the Portfolio Content Category

(PCC) 3 for Unbundled Renewable Energy Credits as defined in the California Public

Utility Commission decision 11-12-052 and California Public Utility Code §399.16 and

issued by WREGIS having a vintage or energy year designation that corresponds to

the specified vintage of the expiring contract.

Registry Western Renewable Energy Generation Information System (WREGIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 39800 lots, Single Month Accountability Level: 39800 lots, All Month

Accountability Level: 39800 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

California PCC 3 REC Vintage 2030 Future

ITEM SPECIFICATION

Contract Description

Physically delivered Renewable Energy Certificates (RECs) issued by the Western

Renewable Energy Generation Information System (WREGIS) for qualifying

production that satisfies the Portfolio Content Category (PCC) 3 for Unbundled

Renewable Energy Credits as defined in California Public Utility Commission decision

11-12-052 and California Public Utility Code §399.16

Contract Code WAN

Settlement Method Physical Delivery

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot

Lot Size 100 MWh representing 100 RECs

Currency US Dollars

Minimum Tick $0.01 per MWh

Settlement Price Precision $0.01 per MWh

Last Trading Date Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the deliverymonth)

Contract Series

Monthly contracts beginning with March of the corresponding vintage year through

June of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Deliverable Product

RECs eligible for delivery are those eligible to satisfy the Portfolio Content Category

(PCC) 3 for Unbundled Renewable Energy Credits as defined in the California Public

Utility Commission decision 11-12-052 and California Public Utility Code §399.16 and

issued by WREGIS having a vintage or energy year designation that corresponds to

the specified vintage of the expiring contract.

Registry Western Renewable Energy Generation Information System (WREGIS)

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and

extrapolation to traded contracts, as appropriate

Final Settlement Price The Daily Settlement Price on the Last Trading Day

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with

information identifying the Participants with delivery obligations for the purpose of

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment)

Date

Three or four Business Days after the Last Trading Day on the successful delivery of

the underlying instruments (if the delivery confirmation is available by 11:30am on

the third Business Day after the Last Trading Day, the payment will be made on the

same day during the Midday Margin Cycle; if it is available after 11:30am, the

payment will be made on the next Margin Cycle which will be the next Business Day)

Position Limit Spot Month: 41500 lots, Single Month Accountability Level: 41500 lots, All Month

Accountability Level: 41500 lots

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

New Jersey Solar Renewable Energy Certificate Vintage 2028 Option

ITEM SPECIFICATION

Contract Description An Option on the corresponding month of the New Jersey Solar Renewable Energy

Certificate Vintage 2028 Future

Option Style European

Underlying Contract NSL

Hours of Trading As defined at http://www.nodalexchange.com

Contract Size per Lot 1 lot of the Underlying Contract

Unit of Trading 1 lot, as defined in Contract Size per lot

Strike Price

A minimum of ten Strike Prices in increments of $1.00 above and below the at-themoney Strike Price. The at-the-money strike price is the closest interval nearest to the 

previous day's Settlement Price of the Underlying Contract. Strike Price boundaries

are adjusted according to futures price movements. User-defined StrikePrices are

allowed in $1.00 increments

Currency US Dollars

Minimum Tick $0.001 per Allowance

Settlement Price Precision $0.001 per Allowance

Last Trading Day

At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th

calendar day is not a Business Day, the Last Trading Day shall be the first BusinessDay

following the 15th calendar day of the delivery month

Contract Series

Monthly contracts beginning with September of the year prior to the vintage year,

through August of two years after the Vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle for up to 4 years.

Premium The premium on the Option is paid from the buyer to the seller on the nextsettlement

cycle following the Transaction

Daily Settlement Price Determined by the Exchange based on Exchange activity, other market data, and

extrapolation to traded Option contracts, as appropriate

Exercise

Exercise of In-the-Money Options is automatic on the Last Trading Day unless the

Exchange is notified by 5:30 pm EPT on the Last Trading Day (1) to allow the In-theMoney Options to expire without exercise or (2) to exercise expiring Out-of-theMoney Options

Settlement Method Exercise into Underlying Contracts

Position Limit

Spot Month: 69,600 lots, Single Month Accountability Level: 41,100 lots, All Month

Accountability Level: 41,100 lots Weighted by Option delta and combined with

Underlying Contract position.

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

New Jersey Solar Renewable Energy Certificate Vintage 2029 Option

ITEM SPECIFICATION

Contract Description An Option on the corresponding month of the New Jersey Solar Renewable Energy

Certificate Vintage 2029 Future

Option Style European

Underlying Contract NSM

Hours of Trading As defined at http://www.nodalexchange.com

Contract Size per Lot 1 lot of the Underlying Contract

Unit of Trading 1 lot, as defined in Contract Size per lot

Strike Price

A minimum of ten Strike Prices in increments of $1.00 above and below the at-themoney Strike Price. The at-the-money strike price is the closest interval nearest to the 

previous day's Settlement Price of the Underlying Contract. Strike Price boundaries

are adjusted according to futures price movements. User-defined StrikePrices are

allowed in $1.00 increments

Currency US Dollars

Minimum Tick $0.001 per Allowance

Settlement Price Precision $0.001 per Allowance

Last Trading Day

At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th

calendar day is not a Business Day, the Last Trading Day shall be the first BusinessDay

following the 15th calendar day of the delivery month

Contract Series

Monthly contracts beginning with September of the year prior to the vintage year,

through August of two years after the Vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle for up to 4 years.

Premium The premium on the Option is paid from the buyer to the seller on the nextsettlement

cycle following the Transaction

Daily Settlement Price Determined by the Exchange based on Exchange activity, other market data, and

extrapolation to traded Option contracts, as appropriate

Exercise

Exercise of In-the-Money Options is automatic on the Last Trading Day unless the

Exchange is notified by 5:30 pm EPT on the Last Trading Day (1) to allow the In-theMoney Options to expire without exercise or (2) to exercise expiring Out-of-theMoney Options

Settlement Method Exercise into Underlying Contracts

Position Limit

Spot Month: 57,100 lots, Single Month Accountability Level: 41,100 lots, All Month

Accountability Level: 41,100 lots Weighted by Option delta and combined with

Underlying Contract position.

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

New Jersey Solar Renewable Energy Certificate Vintage 2030 Option

ITEM SPECIFICATION

Contract Description An Option on the corresponding month of the New Jersey Solar Renewable Energy

Certificate Vintage 2030 Future

Option Style European

Underlying Contract NSN

Hours of Trading As defined at http://www.nodalexchange.com

Contract Size per Lot 1 lot of the Underlying Contract

Unit of Trading 1 lot, as defined in Contract Size per lot

Strike Price

A minimum of ten Strike Prices in increments of $1.00 above and below the at-themoney Strike Price. The at-the-money strike price is the closest interval nearest to the 

previous day's Settlement Price of the Underlying Contract. Strike Price boundaries

are adjusted according to futures price movements. User-defined StrikePrices are

allowed in $1.00 increments

Currency US Dollars

Minimum Tick $0.001 per Allowance

Settlement Price Precision $0.001 per Allowance

Last Trading Day

At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th

calendar day is not a Business Day, the Last Trading Day shall be the first BusinessDay

following the 15th calendar day of the delivery month

Contract Series

Monthly contracts beginning with September of the year prior to the vintage year,

through August of two years after the Vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle for up to 4 years.

Premium The premium on the Option is paid from the buyer to the seller on the nextsettlement

cycle following the Transaction

Daily Settlement Price Determined by the Exchange based on Exchange activity, other market data, and

extrapolation to traded Option contracts, as appropriate

Exercise

Exercise of In-the-Money Options is automatic on the Last Trading Day unless the

Exchange is notified by 5:30 pm EPT on the Last Trading Day (1) to allow the In-theMoney Options to expire without exercise or (2) to exercise expiring Out-of-theMoney Options

Settlement Method Exercise into Underlying Contracts

Position Limit

Spot Month: 41,000 lots, Single Month Accountability Level: 41,100 lots, All Month

Accountability Level: 41,100 lots Weighted by Option delta and combined with

Underlying Contract position.

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Texas Compliance Renewable Energy Certificate from CRS Listed FacilitiesVintage

2033 Back Half Option

ITEM SPECIFICATION

Contract Description An Option on the corresponding month of the Texas Compliance Renewable Energy

Certificate from CRS Listed Facilities Vintage 2033 Back Half Future

Option Style European

Underlying Contract TBQ

Hours of Trading As defined at http://www.nodalexchange.com

Contract Size per Lot 1 lot of the Underlying Contract

Unit of Trading 1 lot, as defined in Contract Size per lot

Strike Price

A minimum of ten Strike Prices in increments of $0.05 above and below the at-themoney Strike Price. The at-the-money strike price is the closest interval nearest to the 

previous day's Settlement Price of the Underlying Contract. Strike Price boundaries

are adjusted according to futures price movements. User-defined StrikePrices are

allowed in $0.01 increments

Currency US Dollars

Minimum Tick $0.001 per REC

Settlement Price Precision $0.001 per REC

Last Trading Day

At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th

calendar day is not a Business Day, the Last Trading Day shall be the first BusinessDay

following the 15th calendar day of the delivery month

Contract Series

Monthly contracts beginning with December of the corresponding vintage year

through December of the year following the vintage year. The exchange may list any

other calendar month contract set off the standard listing cycle.

Premium The premium on the Option is paid from the buyer to the seller on the nextsettlement

cycle following the Transaction

Daily Settlement Price Determined by the Exchange based on Exchange activity, other market data, and

extrapolation to traded Option contracts, as appropriate

Exercise

Exercise of In-the-Money Options is automatic on the Last Trading Day unless the

Exchange is notified by 5:30 pm EPT on the Last Trading Day (1) to allow the In-theMoney Options to expire without exercise or (2) to exercise expiring Out-of-theMoney Options

Settlement Method Exercise into Underlying Contracts

Position Limit

Spot Month: 11541 lots, Single Month Accountability Level: 11541 lots, All Month

Accountability Level: 11541 lots Weighted by Option delta and combined with

Underlying Contract position.

Margin Unit US Dollars
Exhibit A: September 8, 2021 Addition to Nodal

Exchange Appendix A - Contract Specifications

Texas Compliance Renewable Energy Certificate from CRS Listed FacilitiesVintage

2033 Front Half Option

ITEM SPECIFICATION

Contract Description An Option on the corresponding month of the Texas Compliance Renewable Energy

Certificate from CRS Listed Facilities Vintage 2033 Front Half Future

Option Style European

Underlying Contract TFQ

Hours of Trading As defined at http://www.nodalexchange.com

Contract Size per Lot 1 lot of the Underlying Contract

Unit of Trading 1 lot, as defined in Contract Size per lot

Strike Price

A minimum of ten Strike Prices in increments of $0.05 above and below the at-themoney Strike Price. The at-the-money strike price is the closest interval nearest to the 

previous day's Settlement Price of the Underlying Contract. Strike Price boundaries

are adjusted according to futures price movements. User-defined StrikePrices are

allowed in $0.01 increments

Currency US Dollars

Minimum Tick $0.001 per REC

Settlement Price Precision $0.001 per REC

Last Trading Day

At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th

calendar day is not a Business Day, the Last Trading Day shall be the first BusinessDay

following the 15th calendar day of the delivery month

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through

December of the year following the vintage year. The exchange may list any other

calendar month contract set off the standard listing cycle.

Premium The premium on the Option is paid from the buyer to the seller on the nextsettlement

cycle following the Transaction

Daily Settlement Price Determined by the Exchange based on Exchange activity, other market data, and

extrapolation to traded Option contracts, as appropriate

Exercise

Exercise of In-the-Money Options is automatic on the Last Trading Day unless the

Exchange is notified by 5:30 pm EPT on the Last Trading Day (1) to allow the In-theMoney Options to expire without exercise or (2) to exercise expiring Out-of-theMoney Options

Settlement Method Exercise into Underlying Contracts

Position Limit

Spot Month: 11541 lots, Single Month Accountability Level: 11541 lots, All Month

Accountability Level: 11541 lots Weighted by Option delta and combined with

Underlying Contract position.

Margin Unit US Dollars
Exhibit C

Nodal Exchange, LLC Rulebook Appendix C: Reporting Levels, Accountability Levels and

Position Limits**

Physical

Commodity

Code

Contract Name

Reporting

Level

Spot Month

Position Limit

(lots)

Spot Month

Accountability

Level (lots)

Single Month

Accountability

Level (lots)

All Month

Accountability

Level (lots)

Aggregation

Group*

MHD MD REC Tier 2 V20 Future 25 13600 13600 13600

MHE MD REC Tier 2 V21 Future 25 13600 13600 13600

MHF MD REC Tier 2 V22 Future 25 13600 13600 13600

MHG MD REC Tier 2 V23 Future 25 13600 13600 13600

MHH MD REC Tier 2 V24 Future 25 13600 13600 13600

MHI MD REC Tier 2 V25 Future 25 13600 13600 13600

MQE ME REC Class 2 V21 Future 25 30339 30339 30339

MQF ME REC Class 2 V22 Future 25 30339 30339 30339

MQG ME REC Class 2 V23 Future 25 30339 30339 30339

MQH ME REC Class 2 V24 Future 25 30339 30339 30339

MQI ME REC Class 2 V25 Future 25 30339 30339 30339

NKD NAR CRS Wind REC V20 Back Half Future 25 6695 6695 6695

NKE NAR CRS Wind REC V21 Back Half Future 25 6695 6695 6695

NKF NAR CRS Wind REC V22 Back Half Future 25 6695 6695 6695

NKG NAR CRS Wind REC V23 Back Half Future 25 6695 6695 6695

NKH NAR CRS Wind REC V24 Back Half Future 25 6695 6695 6695

NKI NAR CRS Wind REC V25 Back Half Future 25 6695 6695 6695

NKJ NAR CRS Wind REC V26 Back Half Future 25 6695 6695 6695

NKK NAR CRS Wind REC V27 Back Half Future 25 6695 6695 6695

NKL NAR CRS Wind REC V28 Back Half Future 25 6695 6695 6695

NKM NAR CRS Wind REC V29 Back Half Future 25 6695 6695 6695

NKN NAR CRS Wind REC V30 Back Half Future 25 6695 6695 6695

NLD NAR CRS Wind REC V20 Front Half Future 25 6695 6695 6695

NLE NAR CRS Wind REC V21 Front Half Future 25 6695 6695 6695

NLF NAR CRS Wind REC V22 Front Half Future 25 6695 6695 6695

NLG NAR CRS Wind REC V23 Front Half Future 25 6695 6695 6695

NLH NAR CRS Wind REC V24 Front Half Future 25 6695 6695 6695

NLI NAR CRS Wind REC V25 Front Half Future 25 6695 6695 6695

NLJ NAR CRS Wind REC V26 Front Half Future 25 6695 6695 6695

NLK NAR CRS Wind REC V27 Front Half Future 25 6695 6695 6695

NLL NAR CRS Wind REC V28 Front Half Future 25 6695 6695 6695

NLM NAR CRS Wind REC V29 Front Half Future 25 6695 6695 6695

NLN NAR CRS Wind REC V30 Front Half Future 25 6695 6695 6695

NSL NJ SREC V28 Future 25 69600 69600 69600

NSM NJ SREC V29 Future 25 57100 57100 57100

NSN NJ SREC V30 Future 25 41000 41000 41000

NUD NAR CRS Solar REC V20 Back Half Future 25 516 516 516

NUE NAR CRS Solar REC V21 Back Half Future 25 516 516 516

NUF NAR CRS Solar REC V22 Back Half Future 25 516 516 516

NUG NAR CRS Solar REC V23 Back Half Future 25 516 516 516

NUH NAR CRS Solar REC V24 Back Half Future 25 516 516 516

NUI NAR CRS Solar REC V25 Back Half Future 25 516 516 516

NUJ NAR CRS Solar REC V26 Back Half Future 25 516 516 516

NUK NAR CRS Solar REC V27 Back Half Future 25 516 516 516

NUL NAR CRS Solar REC V28 Back Half Future 25 516 516 516

NUM NAR CRS Solar REC V29 Back Half Future 25 516 516 516

NUN NAR CRS Solar REC V30 Back Half Future 25 516 516 516

NVD NAR CRS Solar REC V20 Front Half Future 25 516 516 516

NVE NAR CRS Solar REC V21 Front Half Future 25 516 516 516

NVF NAR CRS Solar REC V22 Front Half Future 25 516 516 516

NVG NAR CRS Solar REC V23 Front Half Future 25 516 516 516

NVH NAR CRS Solar REC V24 Front Half Future 25 516 516 516

NVI NAR CRS Solar REC V25 Front Half Future 25 516 516 516

NVJ NAR CRS Solar REC V26 Front Half Future 25 516 516 516

NVK NAR CRS Solar REC V27 Front Half Future 25 516 516 516

NVL NAR CRS Solar REC V28 Front Half Future 25 516 516 516

NVM NAR CRS Solar REC V29 Front Half Future 25 516 516 516

NVN NAR CRS Solar REC V30 Front Half Future 25 516 516 516

TBQ TX REC CRS V33 Back Half Future 25 11541 11541 11541

TFQ TX REC CRS V33 Front Half Future 25 11541 11541 11541

WAE CA PCC 3 REC V21 Future 25 24800 24800 24800

WAF CA PCC 3 REC V22 Future 25 26700 26700 26700

WAG CA PCC 3 REC V23 Future 25 28600 28600 28600

WAH CA PCC 3 REC V24 Future 25 30500 30500 30500
Exhibit C

Nodal Exchange, LLC Rulebook Appendix C: Reporting Levels, Accountability Levels and

Position Limits**

Physical

Commodity

Code

Contract Name

Reporting

Level

Spot Month

Position Limit

(lots)

Spot Month

Accountability

Level (lots)

Single Month

Accountability

Level (lots)

All Month

Accountability

Level (lots)

Aggregation

Group*

WAI CA PCC 3 REC V25 Future 25 32300 32300 32300

WAJ CA PCC 3 REC V26 Future 25 34200 34200 34200

WAK CA PCC 3 REC V27 Future 25 36100 36100 36100

WAL CA PCC 3 REC V28 Future 25 37900 37900 37900

WAM CA PCC 3 REC V29 Future 25 39800 39800 39800

WAN CA PCC 3 REC V30 Future 25 41500 41500 41500

* In addition to the individual position limit of each contract, Nodal Exchange has a separate algorithm to check the combined position limit of contracts within the same

aggregation group.

** For Options expiring during, or at the close of, the Underlying Contract's delivery period, the combined Underlying Contract and futures-equivalent Options position will 

be subject to the position limit established for the Underlying Contract.

*** Reporting Level for Option is 25.

Revision Date: 9/8/2021