Self-Certification to Amend Market Maker Agreement and Fee Schedule
|Notice Type||Notice ID|
|Rulebook & Agreement||932.053018|
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 Commodity Futures Trading Commission (the “Commission”) under the Act (the “Regulations”), North American Derivatives Exchange, Inc. (“Nadex”, the “Exchange”) hereby submits to the Commission its amendments to the Nadex Market Maker Agreement with respect to the specific period during which Market Makers are permitted to refrain from quoting. Nadex is amending the language of this section to remove the specific reference to “Weekly Bitcoin Contract” in order to also include its Monthly Bitcoin Contract (self-certified in February 2018), from which Market Makers will also be permitted to cease quoting in the last 5 minutes leading up to expiry of the contract. Additionally, Nadex is amending it fees structure to charge non-intermediated Market Makers a $0.20 Exchange trading fee per contract per side for each trade executed on the Exchange, and a $0.20 Exchange settlement fee for each contract that settles in-the-money for all Monthly Bitcoin Mini Spread contracts. This change is being made based on the structure and scale of this contract, in order to incentivize its Market Makers to quote tighter markets and provide a better experience to its market participants in the Bitcoin Mini Spread.
Should you have any questions or require further information, please contact the Compliance Department.