The North American Derivatives Exchange (Nadex), announced that the volume of binary options and spread contracts traded on the exchange rose 38% in the first quarter of 2015 versus Q1 2014, and in line with the trading update recently released by IG Group.
The most heavily traded contracts were the US 500 (based on the CME® E-mini S&P 500 Index® Futures) and the EUR/USD.
Nadex, part of IG Group (LON: IGG), a global financial services provider, is the first CFTC-regulated, retail focused, online exchange in the US offering binary options and spreads. Member funds are segregated and held in US banks.
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Nadex’s year-on-year growth highlights the growing popularity in the US of exchange-traded binary options. Nadex has expanded to offer new trading opportunities in the most popular stock indices, commodities and forex markets. Binary options and spreads are available nearly 24 hours a day, with a wide range of intraday, daily, and weekly expirations.
With Nadex, individuals can now trade binaries on the Tera® Bitcoin Price Index. The China 50 contract, based on the SGX® FTSE® Xinhua® China A50 Index Futures, which tracks an index of leading stocks, lets North American traders take positions on the Chinese market.
Nadex has also recently added debit cards to the list of convenient ways members can fund their accounts and made enhancements to its advanced trading platform, Nadex Pro.
“For the second year in a row, we’ve seen a record number of active traders in the first quarter,” said Tim McDermott, CEO of Nadex. “Both beginners and experienced traders are getting interested in binary options as a limited-risk, low cost way to trade. We are pleased that we are not only attracting a lot of new members but retaining long-time members who have made binaries part of their trading routines. As more people learn about exchange-traded binary options, our volumes will continue to increase.”