Nadex Refrains from Listing its Daily Bitcoin Binary Contracts on November 22, 2016
On November 22, 2016 Nadex submitted to the Commission an emergency notice pursuant to Commission Rule 40.6(a), that Nadex refrained from listing its Daily Bitcoin Binary contracts at the open of business for trade date November 22, 2016. This action was taken as the result of a technical issue that prevented the overnight market maker from pricing an accurate market. Due to the low liquidity in the Nadex Bitcoin contracts in the absence of the market maker, Nadex decided it was appropriate to refrain from listing the contract until pricing could resume in the market. Accordingly, the contract was relisted at approximately 10:00am ET on trade date November 22, 2016. In the event the technical issue experienced by the overnight market maker has not been corrected for the open of business on trade date November 23 or 25, (Nadex is closed on November 24, 2016), Nadex will again refrain from listing this contract until pricing can resume. Nadex will post a notice on its website if the contract will be delayed.