Nadex Self-Certification to Adjust Parameters for Acceptable Bid/Ask Spread in Underlying Data for Expiration Value Calculation in Currency Products

On January 12 2018, North American Derivatives Exchange, Inc. (“Nadex”, the “Exchange”) submitted to the Commodity Futures Trading Commission (the “Commission”), pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended (“Act”), and section §40.6(a) of the regulations promulgated by the Commission under the Act (the “Regulations”), its intent to amend its Rules to allow for the adjustment of the parameters for an acceptable bid/ask spread in the underlying currency market data that Nadex uses to collect midpoint data and calculate an Expiration Value for its Foreign Currency Binary and Variable Payout contracts, as it deems necessary or appropriate based on the current underlying market conditions, in order to provide a better representation of the underlying value. Nadex will post notice of any such adjustments on its website on the Notices page. The Rule changes will become effective on January 30, 2018.

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