Nadex Halts Trading in its Japan 225 Contracts Due to Holiday in the Underlying Market on March 21, 2016
On March 21, 2016 Nadex submitted to the Commission an emergency notice pursuant to Commission Rule 40.6(a), that on March 21, it halted trading in all Japan 225 contracts, and refrained from listing its 2-Hour Intraday Binary contracts beginning with the 11pm ET expiration, and its 20-Minute Intraday Binary contracts beginning with the 9pm ET expiration for the remainder of trade date March 21, due to the closure of the Tokyo Stock Exchange in observance of the Vernal Equinox holiday. The Nadex Japan 225 contracts are based on the SGX Nikkei 225 Index Futures. The SGX Nikkei 225 Index Futures are based on the Nikkei 225 Index traded at the Tokyo Stock Exchange. Trading was halted in the Japan 225 market in order to prevent settlement issues resulting from low liquidity in the underlying market due to the holiday. Notice was provided on March 16 in Notice 725.031616 that the Japan 225 contracts would not be listed for trade date March 21. The Japan 225 contracts will resume their regular schedule on trade date March 22, 2016.