Nadex Amends Event Contracts Payout Criteria, Definition of ‘Weekly Contracts’, and Clarifies GDP

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 Commodity Futures Trading Commission (the “Commission”) under the Act (the “Regulations”), North American Derivatives Exchange, Inc. (“Nadex”, the “Exchange”) submitted to the Commission on November 26, 2021 its intent to amend the payout criteria for its Initial Jobless Claims, Nonfarm Payrolls, Gross Domestic Product, and Unemployment Rate Binary contracts to align with all other Nadex contracts, that is, an in-the-money contract will be one with a strike level great than the Expiration Value, rather than greater than or equal to the Expiration Value.  Additionally, Nadex is amending the definition of “Weekly Contracts”, and is clarifying the underlying and Expiration Value used for the Gross Domestic Product Binary Contract, noting that the value is the percentage increase or decrease from the previous release value.  These Rule changes will become effective December 13, 2021.