Nadex Halts Trading in its US 500 and US Tech 100 Due to Limit Down in Underlying on November 8, 2016
On November 9, 2016 Nadex submitted to the Commission an emergency notice pursuant to Commission Rule 40.6(a), that on November 8, 2016 (trade date November 9, 2016), Nadex determined emergency action was appropriate to halt trading in its US 500 and US Tech 100 Variable Payout and Binary contracts due to the lock limit down in the corresponding underlying CME E-mini S&P 500 Index Futures and CME E-mini NASDAQ 100 Index Futures markets upon which the Nadex contracts are based. Specifically, trading was halted in all US Tech 100 Variable Payout contracts, as well as the Daily and Weekly US Tech 100 Binary contracts at approximately 12:08am ET. Trading in all US 500 Variable Payout contracts, as well as the Daily and Weekly US 500 Binary contracts was also halted at approximately 12:08am ET. All halted contracts were reopened at approximately 12:31am ET. Trading resumed in all contracts before any regularly scheduled expirations occurred.