Nadex Temporarily Widens Spread and Halts Contracts

Notice Type Notice ID
Exchange 1114.030920

On trade date March 9, 2020, North American Derivatives Exchange, Inc. (“Nadex”, the “Exchange”) temporarily refrained from listing its GBP/JPY Intraday 5-Minute Currency Binary contracts which would have expired at 6:10pm- 6:20pm ET, and its GBP/USD Intraday 5-Minute Currency Binary contracts which would have expired at 6:10pm and 6:15pm ET.  The GBP/JPY Intraday 5-Minute Currency Binary contract was listed at 6:20pm ET for a 6:25pm ET expiration, and the GBP/USD Intraday 5-Minute Currency Binary contract was listed at 6:15pm for a 6:20pm ET expiration.  This action was taken pursuant to Nadex Rules 12.31(f)(iv)(5) and 12.41(f)(iv)(5).

Also on trade date March 9, 2020, pursuant to the authority granted in Nadex Rule 12.1(l), the acceptable bid/ask spread used for determining the midpoint prices of the EUR/JPY Intraday 5-Minute Currency Binary contracts and the GBP/JPY Intraday 5-Minute Currency Binary contracts, which comprise the data set used to calculate the expiration value of those contracts, was widened from 10 pips to 20 pips for the 6:05pm ET expiration.

Finally, due to the circuit breaker trading halt in the underlying markets upon which the Nadex contracts are based and pursuant to the authority granted in Rule 12.1(i), no US Indices Intraday 20-Minute Binary contracts were listed for the 10:00am ET expiration.  These contracts were relisted beginning with the 10:20am ET expiration time.

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