An electrode for detecting interactions between members of a binding pair, which electrode has been modified by formation of a non-conductive self-assembled monolayer, and a method of detecting biomolecules, such as nucleic acids or other targets, including receptors, ligands, antigens or antibodies, utilizing such an electrode. When contacted with a target nucleic acid, an oligonucleotide probe coupled to the self-assembled monolayer reacts with the target nucleic acid form a hybridized nucleic acid on the modified electrode surface. The hybridized nucleic acid is reacted with a transition metal complex capable of oxidizing a preselected base in the hybridized nucleic acid in an oxidation-reduction reaction, the oxidation-reduction reaction is detected, and the presence or absence of the nucleic acid is determined from the detected oxidation-reduction reaction.