Nadex Extends the Duration of its Daily Currency Binary Contracts and Adds Additional Close Times, and Amends its Holiday Product Schedule Guidelines
|Notice Type||Notice ID|
|Rulebook & Agreement||428.031513|
Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, and Commission Regulation §40.6(a), Nadex has filed a submission with its intent to extend the duration of its Daily Currency Binary contracts to 23 hours and add additional close times for its Daily Currency Binary contracts of the same duration.
The additional Daily Currency contracts will have a close time of 11:00pm ET, 3:00am ET, 7:00am ET, 11:00am ET, 3:00pm ET, and 7:00pm ET. The extended Daily Currency contracts will be listed for trading 23 hours prior to the stated close time, with the exception of the listing of contracts for the open of business on Monday’s trade date. Contracts with a close time of 11:00pm, 3:00am, 7:00am, 10:00am, and 3:00pm will be listed at 6:00pm ET on Sunday evening when the Exchange opens for Monday’s trade date. No contract will expire at 7:00pm on Monday’s trade date. The first 7:00pm expiration contract of the week will be listed at 8:00pm on Sunday evening (Monday’s trade date) and will expire at 7:00pm on Monday evening (Tuesday’s trade date). Contracts which would normally expire at 7:00pm and 11:00pm will not be listed on Thursday for Friday’s trade date. The last Daily Currency contract for the week will be listed at 4:00pm ET on Thursday and will expire at 3:00pm ET on Friday.
Additionally, Nadex is amending its Holiday Product Schedule Guidelines to reflect the listing schedule for Daily Currency Binary contracts for the holidays, to correct the opening time for the FTSE 100 and Germany 30 contracts following a holiday, and to remove reference to the Korea 200 contract which has been delisted.
This filing will be effective April 1, 2013.
Specific trading hours times will be amended on the Forex Contract Specs page when this submission becomes effective on April 1, 2013.
Should you have any questions or require further information, please contact the Compliance Department.