Nadex Adds New Bitcoin Binary Contracts to Product Listing
Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, and Commission Regulation §40.2(a), Nadex has submitted to the Commission its intent to add new Bitcoin Binary Contracts to its current product listing. The Bitcoin Binary Contracts will be based on the underlying Tera® Bitcoin Price Index, as calculated by the TeraExchange® LLC and will initially be offered in Daily and Weekly durations. Contract specifications for the Bitcoin Binary Contracts will be set forth in Rule 12.20. Nadex is also amending Rule 4.4 to exempt approved market makers who are engaged in bona fide market-making activity from the position limits for the Bitcoin Binary Contracts. Exempt market makers will be subject to the Alternative Position Limits as set forth in that Rule.
Nadex plans to implement these changes on December 1, 2014.