Nadex Halts Trading in its Corn Binary and Variable Payout Contracts on April 8, 2014

518.040914

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, Commission Regulation §40.6(a), and Nadex Rules 2.4 and 12.1, Nadex has submitted to the Commission notice of an emergency action that it halted trading in its Corn Binary and Variable Payout contracts on April 8, 2014, as the result of technical issues in the underlying market upon which those contracts are based. Due to technical issues, the CME Group halted trading on Globex Futures and Options of Corn (ZC) at 1:38:33pm ET. As the Nadex Corn Binary and Variable Payout contracts are based upon the underlying CBOT® Corn Futures, it was deemed that the lack of an underlying market would materially affect the performance of the Corn contracts traded on Nadex. Accordingly, Nadex halted trading in its Corn contracts at 1:58:16pm ET, rather than at the regular close time of 2:15pm ET. Nadex settled its Daily Corn contracts by its regular settlement procedure, using the last 25 underlying trade prices prior to the CME’s trading halt. Nadex resumed its regular listing schedule for its Corn Binary and Variable Payout contracts on April 9, 2014.

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