Nadex Self-Certification to Amend Fee Schedule

Notice Type Notice ID
Rulebook & Agreement 809.121516

On December 15, 2016, North American Derivatives Exchange, Inc. (“Nadex”, the “Exchange”) submitted to the Commodity Futures Trading Commission (the “Commission”), pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended (“Act”), and section §40.6(a) of the regulations promulgated by the Commission under the Act (the “Regulations”), its intent to amend its Fee Schedule for all Direct Members.  The new fee structure correlates to the significant Membership and trading activity growth, increased marketing, educational, and sales efforts, the numerous improvements to the trading platform, payment methods, listed products, and charts, among others, that Nadex has experienced over the past four years.  Due to these enhancements, as well as on-going maintenance and development, Nadex believes it is appropriate to amend the fees charged to Direct Members at this time, in order to continue to provide its Members a high quality trading experience and exceptional service.  Accordingly, Nadex plans to amend its Fee Schedule to charge its Direct Members a $1.00 transaction fee per contract per side for each trade executed up to and including 50 lots.  Members would not be charged additional transaction fees for lots over 50 executed within a single trade.  Direct Members would also be charged an un-capped $1.00 settlement fee per contract per side for each contract that settles in-the-money.  If the per-contract settlement payout is greater than $0, but the total fee to be charged for the position exceeds the total settlement payout for that position, Nadex will reduce the settlement fee to the amount of the total settlement payout for that position (that is, Nadex will not charge a settlement fee that exceeds a settlement payout).  Members will not incur settlement fees for contracts that settle out-of-the-money.  With the implementation of this new Fee Schedule, both Nadex’s pre- and post- August 18, 2011 Fee Schedules will be extinguished, and all Direct Members will be moved to the new Fee Schedule as set forth in this submission.  This submission will become effective January 3, 2017.

Please click below to view the submission.

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Should you have any questions or require further information, please contact the Compliance Department.