Nadex Self-Certification to List New Bitcoin Spread Contracts

Notice Type Notice ID
Rulebook & Agreement 891.121417

On December 14, 2017, 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 §40.2(a) of the regulations promulgated by the Commission under the Act (the “Regulations”), its intent to list new Bitcoin Spread Contracts, based on the underlying USD TeraBit Price Index.  Nadex intends to charge a $2.00 per contract fee in connection with the trading and settlement of its Bitcoin Spread Contract.  However, in connection with the launch of this new contract, initially, Members will only be charged a $1.00 trading fee per side, per Bitcoin Spread Contract traded, which will be capped at $50 per order, and an uncapped $1.00 settlement fee for those contracts that settle resulting in a payout to the Member. Pursuant to Nadex Rule 3.8(e)(Dues, Fees, and Expenses Payable By Members), “[i]f Nadex determines in the future to impose dues or additional fees, the Member will be provided notice of the change at the time the amended fees are filed with the Commission.  The new fee structure will be implemented no earlier than on the first available trade date for which the change may be implemented according to the Commission’s self-certification filing requirements as set forth in Commission Regulation Section 40.6(a).”  Accordingly, the higher $2.00 trade and settlement fees will take effect no earlier than January 2, 2018.  Nadex will also post a notice of the fee change on the Notices page of its website when a date has been determined. 

Nadex plans to launch the new contracts at 8:00am ET on trade date December 18, 2017. 

Please click below to view the submission.

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PDF icon notice_891.pdf187.08 KB

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