Nadex Temporarily Grants Market Maker Quoting Exemption Due to Illiquid Markets
Pursuant to the Nadex Market Maker Agreement, Section 4, Subsection (a)(iv), Market Maker(s) may refrain from submitting quotes during a period of illiquidity in the underlying markets, defined as thinly traded markets during particular time period. In anticipation of a period of continued illiquidity in the underlying markets upon which the Nadex contracts are based, Nadex is temporarily granting its Market Makers relief from their quoting obligations in the Intraday 5-Minute Foreign Currency Binary contracts between the hours of 2:00PM and 5:00PM ET through March 31, 2022. Nadex will update this notice in the event this exemption is extended. Pursuant to the Market Maker Agreement, any Market Maker who chooses to submit quotes during the illiquid market period will be required to comply with the defined spread and size requirements as set forth in the Market Maker Agreement.