ElectronX features in today's Bloomberg News story reporting on Chicago's LaSalle Street Corridor real estate revival, where CEO Sam Tegel discusses our decision to headquarter in the North Loop. 📰 Read more from Miranda Davis: https://lnkd.in/gfwDw5hZ
ElectronX
Capital Markets
Chicago, Illinois 3,961 followers
Precision Trading for Power Volatility
About us
ElectronX (EXI), the first U.S.-regulated, direct-access power derivatives market, is the energy exchange created to address volatile short-term price exposure to electricity. With locations in Chicago and New York City, ElectronX is helping to expand the nation's power grid by building the financial infrastructure and risk management tools necessary to support increased investment in energy generation, renewable resources, and battery storage technology. ElectronX is proud to be supported by premier venture capital, quantitative trading, and global energy firms including Innovation Endeavors, DCVC, Systemiq Capital, Equinor Ventures, Shell Ventures, XTX Markets, Five Rings, NGP, GTS, Amplo, BoxGroup, JACS Capital, and Lightning Capital. For more information, please visit electronx.com.
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http://www.electronx.com
External link for ElectronX
- Industry
- Capital Markets
- Company size
- 11-50 employees
- Headquarters
- Chicago, Illinois
- Type
- Privately Held
Locations
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Primary
Get directions
180 N La Salle St
Suite 2950
Chicago, Illinois 60601, US
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Get directions
155 W. 23rd St.
9th Floor
New York, NY 10011, US
Employees at ElectronX
Updates
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🎤 ElectronX CEO Sam Tegel will moderate the panel conversation tomorrow, May 20, at Trading Technologies' Exchange Spotlight event in Chicago. Register to attend here: https://lnkd.in/gYybJ78P
🇺🇸 The TT Exchange Spotlight series is coming to Chicago and New York this month. Join sell-side and buy-side leaders to hear from our exchange partners as we explore the latest developments shaping the event contract landscape — from institutional adoption and regulatory outlook to emerging trading strategies and the role of event contracts in risk management. 📍 Chicago | May 20 Trading Technologies, 1 South Wacker Drive, Suite 1200 Register 👉 https://lnkd.in/eNPGDX6S 📍 New York | May 28 The Bryant Park Hotel, 40 West 40th Street Register 👉 https://lnkd.in/e_hA6wGF Cboe Global Markets ElectronX GFO-X Rothera Kalshi
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ElectronX reposted this
PJM is on the verge of setting back-to-back all-time May load records, and we're only about halfway through the month. Consider the following: ➡️ Today (5/18) peaks at 134gw; tomorrow (5/19) pushes to 135gw, ranking 3rd and 2nd, respectively, all-time for May daily peaks, behind only the historic 140gw day on 5/31/2022 ➡️ Daily averages of ~107–111gw are running 40–50% above the historical May mean ➡️ Both days are tracking well outside the 90th percentile of historical May loads ➡️ Peaks are clustering in the 17:00–18:00 window as solar drops off and cooling demand surges, exactly where hourly granularity matters most ➡️ Seasonally-driven outages, despite PJM's Hot Weather Alerts, make this especially ripe for significant volatility The recent DA clears reflected exactly that: ➡️ Zonal peak LMPs in Dominion and BGE cleared over $900/MWh for 5/18, with Dominion breaking through $1k/MWh on 5/19, driven heavily by congestion ➡️ Dominion's forecasted peak load is exceeding internal scheduled capacity by nearly 5 GW ➡️ Almost all nodes in Data Center Alley saw DA clears surpass $2,000/MWh for HE17 on 5/18 and 5/19 as multiple constraints bound simultaneously Looking ahead to Wednesday (5/20): PJM has issued a Hot Weather Alert for the South and Mid-Atlantic. Thunderstorms are expected, leading a cold front is expected into the I-95 corridor... but if it arrives late, afternoon cooling load keeps building while western parts of the RTO cool off. That ~40°F temperature gradient sets up significant east-west congestion dynamics and continued pressure on the Western Hub / N Illinois spread. At ElectronX, we're watching these load forecasts, congestion patterns and price signals closely; this is exactly the kind of volatile, high-stakes environment where real-time intelligence and hourly granularity matter. DM me if you'd like to know more, or come see what we're seeing in real time!
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ElectronX reposted this
Spring on the wholesale grid used to be quiet. That's not true anymore. Historically traders would get a breather after the winter months and gear up for the annual FTR auctions. But the shoulder season increasingly demands attention and is fraught with significant volatility. The grid has changed faster than the trading conventions built on top of it. Significant data center load growth, a shifting generation mix, and structural transmission constraints have created price dislocations across the footprint that Western Hub simply doesn't capture. The risk doesn't live in on/off-peak blocks anymore; it lives in specific hours, around specific events, in specific zones. Dominion congestion has surged in recent weeks, driven by persistent factors that are likely to worsen before they improve. Pleasant View XF and Ox XF have been binding heavily in Northern Virginia, and Brambleton 230kV network outages are compounding the pressure on an already-stressed corridor concentrated in Data Center Alley, where load no longer follows seasonal rhythms and servers don't power down for spring. There's also a structural reason outage activity peaks right now. PJM's planning year ends May 31. Transmission owners push hard to complete scheduled maintenance before summer, when pulling equipment offline becomes operationally difficult. The result is a compression of outage activity into April and May, historically mild months where the grid had slack. That slack is gone. What's striking isn't just the magnitude of the congestion. It's the location. This isn't a Western Hub story; Dominion zone congestion is increasingly its own event, with its own drivers, timing, and magnitude. The warning is straightforward: if Pleasant View XF and Ox XF are binding in May with mild temperatures and soft industrial load, consider what the same outage topology looks like when Dominion cooling load arrives in June and July and data center load doesn't slow down. A few things worth watching as we move into peak season: -- Morning and evening ramps around outage-constrained topology are where the real risk lies, not the hours on/off-peak categories were built around. -- Dominion zone basis moves independently of Western Hub in ways that matter for LSEs and generators with physical exposure in the I*95 corridor. -- DA/RT divergence in Dominion has widened. Day-ahead positions are an imperfect hedge against real-time exposure. Dominion zone futures on ElectronX are available for participants who want to trade the specific hours and zones where this congestion appears, not a blunt hub proxy, but the zone itself. The action this summer may not be where the liquidity has historically been. DM me if you want to talk through how this is shaping up on the exchange.
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ElectronX reposted this
Onward and upward: Over the last 10 trading days, ElectronX has averaged more than 1.05 GWh per day in volume—after first exceeding that value on April 20. Despite relatively quiet underlying market conditions, our ADV, trade counts and order book depth continue to develop at a rapid pace. Additional highlights since April 27: ↗️ New daily volume record on April 29: 1,488 contracts traded ↗️ Total trades executed: More than 1,250 and counting ↗️ Most active contract: BFUT500-ERCOT, with more than 7,000 contracts traded Coming soon: MISO and CAISO contract suites, as we expand our product coverage to all major U.S. grid operators. ElectronX’s market is open from 7 a.m. to 8 p.m. CT, Monday through Friday. Please reach out to learn more! Image: ElectronX BFUT500-ERCOT Market Table View, May 7, 2026
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Follow our quant power markets expert Matthew Yuros for timely intraday power trading commentary ⚡
There's a reason peak and off-peak categories don't fully describe what happened in PJM last week. On April 27, an emergency outage at the Conastone 500kV XF 2 transformer reshaped basis across the RTO. Eastern Hub real-time prices went sharply negative through SE Pennsylvania, New Jersey, and Delaware. Dominion and Western Hub spiked in the morning, and ripped across multiple hours during the evening ramp. The outage was filed and approved days in advance of the day-ahead auction. The day-ahead market on April 27 did not fully reflect the risk. Eastern Hub cleared positive in DA, yet went negative in RT, with significant negative price volatility. Dominion and Western Hub's DA price under-forecasted what was coming; by the evening ramp, RT had moved well past where DA cleared at both Dominion and Western Hub and stayed there for hours. When the transformer returned to service the following afternoon, the basis flipped; DART spreads also flipped - Eastern Hub RT settled above DA; Dominion and Western Hub both moved the other way. A few things stand out about this kind of event: Risk at the RTOs increasingly lives in specific hours around specific events, not across pre-defined and legacy hourclass or peak blocks, nor a balance-of-day strip. Instead, it moves between the day-ahead and real-time markets, which makes INC/DEC virtuals an imperfect tool for participants with physical positions to manage. A generator in eastern PA, NJ, or DE that wanted to address the congestion on the morning of April 27 had a different option available: hourly futures on ElectronX, sized to the specific hours of exposure. Same for a load-serving entity in BGE or Dominion looking at the other side of the same trade. As of 10am ET, there was over 30 MWh on both sides of the spread near the top of the book on ElectronX for the BFUT500 PJM Western Hub product. The grid is still adjusting to a generation mix that doesn't follow the old rhythms. Hedging instruments are starting to catch up. Let me know if you'd like to learn more about what's available at ElectronX!
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📈 April saw a big swing in upward momentum at ElectronX, with record numbers of trades, volumes and platform participation. A daily volume record was set on April 29, representing nearly 1.5 GWh traded—our third new volume record in as many weeks. ➡️ To learn more about our growing intraday power markets or to inquire about trading or market data exchange membership, please contact sales@electronx.com!
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ElectronX reposted this
Market infrastructure is evolving — and with it comes both opportunity and responsibility. In the latest Innovators’ Exchange, recorded live from Boca Raton, Carsten Kengeter, CEO of 7RIDGE and former CEO of Deutsche Börse, Andrea Remyn Stone, CEO of Zema Global Data Corporation, and Sam Tegel, CEO of ElectronX, examined how markets are expanding beyond futures into software, data and energy/real assets. They agreed on three core themes: ➡️ Technology and AI are powerful enablers but cannot substitute deep industry knowledge. ➡️ Energy markets introduce unique physical and timing challenges that require tailored market design and stronger data governance. ➡️ While innovation can unlock new liquidity and participant types, it also increases systemic exposures that FMIs must manage through transparency and robust competitive advantages. Listen to the full conversation: https://owy.mn/4mRaX5Z
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ElectronX reposted this
Big news: ElectronX recorded its first 1 GWh-plus day today, April 20, with a new daily volume record of 1,379 contracts traded—more than doubling our previous high one week ago!🚀 Since launching our second contract suite on April 6, we’ve achieved close to 100% growth each week in total order and trade count numbers, and more than 100% growth in contract volumes, notional order and notional trade values. Last week, April 13-17, saw healthy liquidity across the order book: ↗️Total orders sent: 79,954 (previous week 43,654) ↗️Total volume traded: 2,288 contracts (previous week 1,241) ↗️Previous record daily volume: 673 contracts (April 13) An equally exciting development: our goal to become a new source of granular intraday price discovery is coming to fruition. PJM and ERCOT instrument suites are producing completely new-to-market hourly price curves as spring temperatures fluctuate across both regions, and healthy liquidity in these curves is providing actionable, precise trading opportunities in 1 MWh sizes for our growing cohort of early participants. We are thrilled to see these order books develop and in turn, the market’s response. Thank you to our exchange participant and industry community for your continued support. I’m proud of our team and all they’ve accomplished since our full exchange launch on Feb. 2 to attain these exciting milestones! ElectronX’s successful launch means that for the first time, energy sector participants can precisely hedge extreme intraday temperature volatility with our U.S-regulated, direct-access derivatives. To learn more about trading or market data exchange membership ahead of the summer season, please contact sales@electronx.com or reach out directly. Images: ElectronX PJM HB West BFUT500 Bounded Futures Market Library View and Market Table View, April 20, 2026
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🎙️Join our CCO Alastair Hawker next Wednesday, April 15, to learn more about ElectronX's market structure and intraday contracts.
Power markets are evolving rapidly. The growth of renewables and intraday volatility requires a level of hourly precision that traditional block products cannot provide. Alastair Hawker from ElectronX, Ned Stainthorpe from BroadPeak, and Jason Delgado from EPAM Systems will cover why hourly granularity matters for risk management, and how to connect to new venues without lengthy IT projects. Register now > https://lnkd.in/ewZHD5dG #PowerMarkets #RiskManagement #EnergyTrading #TradeCapture #PowerFutures
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