Nadex Amends its Settlement Calculation Procedures for Foreign Currencies and Adds 5-Minute Intraday Binary Contracts to Foreign Currencies
Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, and Commission Regulation §40.6(a), Nadex has submitted to the Commission its intent to amend its Expiration Value calculation process for its foreign currency products. The Expiration Value for all foreign currency products will now be calculated by taking the last 10 midpoint prices just prior to expiration of the contract, removing the highest three and lowest 3 prices, and averaging the remaining four midpoint prices rounded to one decimal point past the precision of the underlying. Additionally, Nadex is adding Intraday 5-Minute Binary Contracts to its current listing of GBP/USD, EUR/USD, AUD/USD, and USD/JPY Binary Contracts. Three strike levels will be listed for each 5-Minute Intraday Binary Contract Series, and Contracts will expire every 5 minutes beginning at 6:05pm ET on Sunday evening and ending at 4:00pm ET on Friday.
Nadex plans to implement these changes on December 15, 2014.