Nadex Settles AUD/JPY Binary Contracts Using Bloomberg; Refrains From Listing Intraday and Daily AUD/JPY Contracts During the Week of September 22, 2014
Nadex has submitted to the Commission on September 22, 2014 an emergency notice pursuant to Commission Rule 40.6(a), that due to a technical issue with the data source from which Nadex obtains the data it uses in the settlement value calculation process in the AUD/JPY Contracts, Nadex has determined it is in the best interest of the Exchange and its Members to refrain from listing its Daily and Intraday AUD/JPY Binary Contracts for the remainder of the week of September 22, 2014. Contracts which are currently listed with expiration times of 3pm, 7pm, 11pm, 3am, and 7am ET, as well as the Weekly AUD/JPY Binary Contract, will remain open until their normal expiration times, and will settle using data obtained from Bloomberg. Nadex plans to resume its regular listing schedule for these contracts on no earlier than Monday, September 29, 2014. This action was taken in accordance with Rule 2.4, which grants Nadex the authority to adopt emergency Rules in the event of any circumstance that may materially affect the performance of the Contracts traded on Nadex.
Additionally, as stated on the Nadex website, if data from Reuters is unavailable, Nadex may obtain market pricing data through Bloomberg or another data provider deemed appropriate under the circumstances. As a result of the technical issue described above, the AUD/JPY Intraday Binary Contracts which expired at 10am and 11am, as well as the Daily Contract which expired at 11am, were settled based on data obtained from Bloomberg. This action was taken in accordance with Rule 7.1, which grants Nadex the authority, in its discretion, to adjust the terms of an outstanding Series to achieve fairness to holders of the affected Contracts and to delay settlement of the Series until the outcome is clear to Nadex as determined by reasonable means when underlying data is unavailable.