In accordance with the Nadex Market Maker Agreement, Section 4, Subsection (a) (iv), market makers may refrain from trading for a period of illiquidity on the underlying markets, which are defined as markets that are weakly traded during a given period. In anticipation of a period of illiquidity in the underlying markets on which Nadex contracts are based during the holiday season in the United States, Nadex temporarily grants its market makers an exemption from their listing obligations in 5-minute intraday contracts in foreign binary currencies between 2:00 p.m. and 5:00 p.m. ET for a period of at least one month. Nadex will update this notice if this waiver is extended. In accordance with the market maker agreement, any market maker who chooses to contribute during the illiquid market period must meet the spread and size requirements set out under the market maker agreement. In addition, due to the illiquid markets expected on Thanksgiving Day, Thursday, November 25, 2021, between 3:00.m a.m. and 11:00 a.m. .m ET, Nadex grants its market makers an exemption from their listing obligations in daily, intraday, 2-hour intraday and 5-minute intraday contracts. In accordance with Article 5c(c)(1) of the Commodity Exchange Act and Article 40.6(a) of the Commission Regulation, Nadex informed the Commission that it planned to amend its market-making agreement to take into account a 15-day notice period to amend the definition of “fast market” and determined that the only way out of a breach of the agreement is to terminate the agreement. In addition, Nadex is amending its regulatory framework to add the definition of “reporting level” and to include the new volume thresholds of 50 contracts in accordance with the Commission`s rules on declaration of ownership and control. Finally, this filing modifies the quotation of Japan 225 intraday contracts by 2 hours and 20 minutes to indicate that these contracts will not be quoted in the underlying market symbol due to reduced liquidity during the three business days following a rollover.
In accordance with the 10-day filing period set out in paragraph 40.6(a)(3) of the Regulations, this filing will come into force on May 4, 2020. The changes to the market maker fee will come into effect on May 4, 2020. Dormant account inactivity fees will be introduced on July 1, 2020. In accordance with the 10-day review period provided for in Commission Article 40.6b, the amendments to the market-making agreement will enter into force on 18 April 2016. The changes to the rules will come into force on April 28, 2016, unless otherwise noted. Pursuant to section 5c(c)(1) of the Commodity Exchange Act, as amended (the “Act”) and section 40.6(a) of the rules promulgated by the Commodity Futures Trading Commission (the “Commission”) under the Act (the “Regulations”), the North American Derivatives Exchange, Inc. (“Nadex”, the “Exchange”) of the Commission on September 17. April 2020 presented their plans to introduce a fee of $10.00 per month for dormant account inactivity. For fee purposes, a dormant account is an account that has not engaged in any trading activity for a period of twelve (12) consecutive months. If, at any time, a dormant account has a balance of less than $10.00, Nadex will reduce its fee to the amount of the remaining account balance, bringing the balance to $0. In accordance with Nadex Rule 3.3(f), Nadex may terminate a dormant account valued at $0.
Nadex plans to implement these changes on October 13, 2014. In accordance with Article 5c(c)(1) of the Commodity Exchanges Act and Commission Regulation ยง40.6(a), Nadex has submitted to the Commission its intention to amend its market maker agreement (“Agreement”) and the obligations of Rule 4.4 of market makers. Nadex is also changing the fee schedule for its non-referred Market Maker members and clarifying the wording of its FCM membership fees. In addition, Nadex modifies the fees it charges to duly appointed market makers, as specified in the fee schedule. Nadex will also suspend the Wide Spread surcharge that market makers will incur until further notice. .