Nadex Amends Contract Specifications for Copper and Silver Contracts, Closes Daily and Weekly Copper and Silver Contracts and Does Not List Intraday Copper and Silver Contracts on May 28, 2013, Cancels Trades in Silver Variable Payout Contract
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Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, and Commission Regulation §40.6(a), Nadex submitted to the Commission notice of an emergency action to close its Daily and Weekly Copper and Silver Variable Payout and Binary contracts and to not list its Intraday Copper and Silver Contracts on trade date May 28, 2013, pursuant to the authority granted in Nadex Rule 2.4. This action was deemed necessary due to a change in the internal price scale on the underlying COMEX® Copper and Silver Futures contracts by Reuters, resulting in a change in decimal point placement, and generation of contracts in these products which was not reflective of the actual underlying market. As part of this emergency action, Nadex has cancelled the trades comprising the open interest in the affected contracts at the time of the action. Nadex plans to relist its Copper and Silver Variable Payout and Binary contracts for trade date May 29, 2013 according to its regular listing schedule.
Additionally, Nadex has submitted amendments to its Rulebook to reflect the scaling changes to the Copper and Silver Variable Payout and Binary contracts in the contract specifications for those products set forth in Rules 12.2, 12.3, 12.6, and 12.7.
Should you have any questions or require further information, please contact the Compliance Department.