Nadex Temporarily Refrains from Listing Daily Bitcoin Binary Contracts

Nadex, the North American Derivatives Exchange, has submitted an emergency notice to the Commodity Futures Trading Commission (CFTC), stating that it refrained from listing its Daily Bitcoin Binary contracts at the open of business for trade date on 22 November, 2016.

Technical Issue

The action was taken as the result of a technical issue which prevented the overnight market maker from pricing an accurate market.

Due to the low Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term in the Nadex Bitcoin contracts in the absence of the market maker, Nadex took the decision to refrain from listing the contract until pricing could resume in the market.

In accordance with its statement, the contract was relisted at 10:00am ET on trade date 22 November, 2016.

Advisory

In the event that the technical issue experienced by the overnight market maker has not been corrected for the open of business on trade date 23 or 25 November (Nadex is closed on 24 November, 2016), Nadex has stated that it will once again refrain from listing this contract until pricing can resume. Nadex will post a notice on its website if the contract is further delayed.

Background

Nadex is the only legal way to trade binary options and spreads in the US. The firm, which provides investors the opportunity to trade stock indices, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, commodities, economic events and Bitcoin, is regulated by the CFTC as a Designated Contract Market and Derivatives Clearing Organisation.