Nadex Nadex Crude Oil Binary and Variable Payout Contracts Listed With Incorrect Futures Month

Notice Type Notice ID
Exchange 813.121619

On December 19, 2016 Nadex submitted to the Commission an emergency action pursuant to Commission Rule 40.6(a), providing notice that on trade date December 19, 2016, Nadex Crude Oil Binary and Variable Payout contracts should have experienced a futures month rollover, and been listed based on the underlying NYMEX Crude Oil “February 2017” futures contract, rather than the “January 2017” futures contract.  The Daily and Weekly Crude Oil contracts opened on December 19, 2016 at their regular times, but were listed based on the “January 2017” futures contract.  The 10:00am ET expiration 2-Hr Intraday Binary and Variable Payout contracts, as well as the 6.5 hour Intraday Variable Payout contracts were listed at 8:00am ET, also based on the “January 2017” futures contract. All contracts were halted at approximately 8:06am ET.  Ledger adjustments were made to those transaction counterparties in the erroneously listed contracts. All Crude Oil Daily and Weekly contracts were properly listed with the “February 2017” underlying month at 12:50:51pm ET, and Intraday contracts were listed at 12:52:35pm ET.

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