IG group subsidiary North American Derivatives Exchange, operating under the Nadex brand, has added further time series to two major forex pairs, Forex Magnates speaks to it's CEO-designate Timothy McDermott for comments.
With GBP and AUD experiencing trending price action over the last year relative to the USD, the North American Derivatives Exchange (Nadex), which offers US regulated binary options trading, has extended the number of expirations for these two currency pairs respectively, in order to meet greater demand from clients around-the-clock.
Previously, these pairs only had two specific expiration times including 10am and 3pm, for the short-term two-hour contract specifications, and as per the official press release an additional 16 two-hourly expirations were added, including 4pm, 5pm, 8pm, 9pm, 10pm, 11pm, 12am, 1am, 2am, 3am, 4am, 5am, 6am, 7am, 8am and 9am (all times are in EST).
Nadex Chief Comments on Recent Volumes and Retail FX Market in the US.
Forex Magnates' reporters spoke with Nadex's CEO-Designate, Timothy McDermott, who also holds the roles of General Counsel and Chief Regulatory Officer for the firm. He provided feedback following the announcement, including answers in response to questions we asked, and said, "We see a growing acceptance among traders for exchange-based markets in the United States. As OTC retail FX markets have been flat or even shrinking in terms of the volume of trading in the US, both trading volumes and number of active traders on Nadex have been growing. With respect to retail traders who have been active in the stock market, we see our markets – and particularly our Wall Street 30, US 500 and other contracts based on equity index futures – as a natural fit."
Mr. McDermott added, as part of the feedback to Forex Magnates regarding the announcement,"Nadex volumes are growing generally, and we expect the addition of the overnight expirations to add to that growth in these pairs."
Expiries Expanded to Cover Additional Time Frames
As a result of clients looking to capture short-term price movements, since these pairs have trended generally in one direction over the last year with AUD weakening versus the USD, and the GBP strengthening relative to the US currency, the short-term binary options contracts, which expire after two hours, were expanded to give a wider range of time series to choose from for intraday trading.
“By adding additional intraday expirations during overnight hours, we are continuing to respond to requests for additional FX trading opportunities by our members,” added Timothy McDermott, CEO-Designate at Nadex, commenting in the official press release.
Mr. McDermott concluded regarding the increase trading activity and changes to meet around-the-clock demand, "We have seen a tremendous uptick in traders leveraging our daily and intraday contracts in order to boost trading opportunities and effectively capitalize on short-term movements in the market. The currencies in these intraday contracts are some of the most actively traded in the FX market and we wanted to provide traders with even more trading opportunities from market open on Sundays.”
Binary Options in the US and the Rest of the World
In the US, Nadex is regulated as a Designated Contract Market (DCM) and Designated Clearing Organization (DCO) with the Commodity Futures Trading Commission (CFTC), and thus able to serve US clients with a product that is normally offered by OTC brokers outside of the US.
Nadex is part of the UK headquartered IG Group, and is one of the few regulated exchanges in the US to offer on-exchange binary options, covering some 2,400 different binary options contracts across multiple time frames and markets, thus providing traders a new way to speculate as well as hedge against movements in underlying and correlated asset classes.
Binary options have risen to popularity among both Forex traders (of which binary options traders are a subset), as well as both subsets of other segments such as stock options and stock market traders, as well as traders who focus mainly on binary options trading as part of their strategy to cover price movements across different markets.
With GBP and AUD experiencing trending price action over the last year relative to the USD, the North American Derivatives Exchange (Nadex), which offers US regulated binary options trading, has extended the number of expirations for these two currency pairs respectively, in order to meet greater demand from clients around-the-clock.
Previously, these pairs only had two specific expiration times including 10am and 3pm, for the short-term two-hour contract specifications, and as per the official press release an additional 16 two-hourly expirations were added, including 4pm, 5pm, 8pm, 9pm, 10pm, 11pm, 12am, 1am, 2am, 3am, 4am, 5am, 6am, 7am, 8am and 9am (all times are in EST).
Nadex Chief Comments on Recent Volumes and Retail FX Market in the US.
Forex Magnates' reporters spoke with Nadex's CEO-Designate, Timothy McDermott, who also holds the roles of General Counsel and Chief Regulatory Officer for the firm. He provided feedback following the announcement, including answers in response to questions we asked, and said, "We see a growing acceptance among traders for exchange-based markets in the United States. As OTC retail FX markets have been flat or even shrinking in terms of the volume of trading in the US, both trading volumes and number of active traders on Nadex have been growing. With respect to retail traders who have been active in the stock market, we see our markets – and particularly our Wall Street 30, US 500 and other contracts based on equity index futures – as a natural fit."
Mr. McDermott added, as part of the feedback to Forex Magnates regarding the announcement,"Nadex volumes are growing generally, and we expect the addition of the overnight expirations to add to that growth in these pairs."
Expiries Expanded to Cover Additional Time Frames
As a result of clients looking to capture short-term price movements, since these pairs have trended generally in one direction over the last year with AUD weakening versus the USD, and the GBP strengthening relative to the US currency, the short-term binary options contracts, which expire after two hours, were expanded to give a wider range of time series to choose from for intraday trading.
“By adding additional intraday expirations during overnight hours, we are continuing to respond to requests for additional FX trading opportunities by our members,” added Timothy McDermott, CEO-Designate at Nadex, commenting in the official press release.
Mr. McDermott concluded regarding the increase trading activity and changes to meet around-the-clock demand, "We have seen a tremendous uptick in traders leveraging our daily and intraday contracts in order to boost trading opportunities and effectively capitalize on short-term movements in the market. The currencies in these intraday contracts are some of the most actively traded in the FX market and we wanted to provide traders with even more trading opportunities from market open on Sundays.”
Binary Options in the US and the Rest of the World
In the US, Nadex is regulated as a Designated Contract Market (DCM) and Designated Clearing Organization (DCO) with the Commodity Futures Trading Commission (CFTC), and thus able to serve US clients with a product that is normally offered by OTC brokers outside of the US.
Nadex is part of the UK headquartered IG Group, and is one of the few regulated exchanges in the US to offer on-exchange binary options, covering some 2,400 different binary options contracts across multiple time frames and markets, thus providing traders a new way to speculate as well as hedge against movements in underlying and correlated asset classes.
Binary options have risen to popularity among both Forex traders (of which binary options traders are a subset), as well as both subsets of other segments such as stock options and stock market traders, as well as traders who focus mainly on binary options trading as part of their strategy to cover price movements across different markets.
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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