Nadex Delays Initial Jobless Claims and Federal Funds Event contracts; Nadex to Implement New EUR/GBP and AUD/JPY Event contracts on November 11, 2013
Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, Commission Regulation §40.6(a), and Nadex Rule 2.4, Nadex has submitted to the Commission notice of an emergency action that it plans to delay the listing of its Initial Jobless Claims and Federal Funds Event contracts for the week of October 21, 2013 as the result of the recent government shutdown. The Nadex Initial Jobless Claims Event contracts are based upon the underlying Jobless Claims figures released by the U.S. Department of Labor and the Nadex Federal Funds Event contracts are based on the Target Federal Funds Rate released by the Federal Open market Committee of the Federal Reserve. The next scheduled release dates for the Jobless Claims and Target Federal Funds Rate are October 24, 2013 and October 30, 2013, respectively. This action is being taken as the government shutdown has the potential to affect the timing of the release of these figures, thereby rendering the Nadex Initial Jobless Claims and Federal Funds Event contracts potentially difficult to be settled, and thus materially affecting the performance of those contracts. Nadex plans to resume its regular listing schedule for its Jobless Claims Event contracts on trade date Monday, October 28, 2013 and for its Federal Funds Event contracts on trade date Monday, December 9, 2013.
Additionally, Nadex plans to implement its new EUR/GBP and AUD/JPY Event contracts on trade date Monday, November 11, 2013. The new EUR/GBP and AUD/JPY Event contracts were originally scheduled to be listing on October 14, 2013, as noted in Nadex’s self-certification submission for these contracts on Friday, September 27, 2013, however, were delayed as a result of the lapse in appropriations and curtailment of CFTC regulatory review activity.
