Nadex Refrains From Listing USD/CHF Contracts

Nadex has submitted to the Commission on January 15, 2015 an emergency notice pursuant to Commission Rule 40.6(a), that due to the Swiss National Bank’s decision to remove the peg on the Swiss Franc, causing major fluctuations in the value of the Franc, Nadex has decided to exercise its authority under Rule 2.4 to implement an emergency action to temporarily halt the listing of any new contracts in the USD/CHF Binary and Spread contracts, as the Bank’s decision has a direct impact on trading the Nadex USD/CHF contracts, and may materially affect the performance of those contracts. Any contracts will are currently listed will remain open until their regular close times. A table which sets forth the remaining contracts and their close times is available by clicking this link.

Additionally, contracts which expired at 7:00am ET on trade date January 15, 2015 (daily binary, 8-Hr spread, and 2-Hr intraday spread contracts) were settled using the midpoint between the bid and ask price in the underlying spot USD/CHF currency rate at 10 pips wide or less, rather than the usual 5 pip wide spread as set forth in Rules 12.34 and 12.35. The maximum pip spread used in the settlement calculation of any contracts that remain open will be increased to 10 pips if those contracts are not able to be settled using a 5 pip wide bid/ask spread.

Contracts in the USD/CHF currency pair binary and spread contracts will not be relisted prior to trade date January 16, 2015. Nadex will continue to monitor market conditions to determine when these contracts will be relisted. Nadex will post a notice on its website at such time it resumes the listing of its USD/CHF contracts.