Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, and Commission Regulation §40.6(a), Nadex has submitted notice to the Commission that it intends to add new order type Market Order With Protection (“MOP”). A MOP order is a request submitted to the Exchange to buy or sell a set number of contracts, in a particular product offered by Nadex, at the current displayed market price at the time the order is submitted, however, in the event that displayed market price is no longer available when the Exchange receives the order, the MOP order includes a “Tolerance Protection” level, that is, a pre-determined number of points, expressed as a dollar value, away from the displayed market price that will be acceptable to fill a MOP order in whole or part. The addition of the new order type will afford traders greater flexibility in their trading strategies and the potential to minimize risk.
In accordance with the 10-day review period set forth in Commission Regulation 40.6(b), the Program will be effective no earlier than September 23, 2015.
Should you have any questions or require further information, please contact the Compliance Department.