Nadex Amends Market Maker Agreement

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”), Nadex submitted notice to the Commission that it plans to make the following amendments to its Market Maker Agreement:

• identifying specific “Illiquid Markets”, as described in the Market Maker Agreement, for 2-Hour Intraday, Daily, and Weekly Foreign Currency Binary Contracts;

• expanding the daily hours identified as “Illiquid Markets” from 6:00pm ET – 3:00am ET to 2:00pm ET – 3:00am ET;

• grants Nadex discretion to determine whether the underlying market upon which a Nadex Foreign Currency Binary Contract is based is trading at a level such that the Nadex contracts would be priced “at-the-money”, in which case the Market Maker will not be deemed to have violated the maximum allowable bid/ask spread quoting obligations as required by the Market Maker Agreement.

These amendments will be effective November 7, 2022.