North American Derivatives Exchange (Nadex), part of IG Group Holdings plc (LON:IGG), is planning to hike the number of orders that participants are allowed to submit via FIX.
The company, regulated by the Commodity Futures Trading Commission (CFTC), has already filed the necessary notice with the regulator. The submission is in accordance with Section 5c(c)(1) of the Commodity Exchange Act, and Commission Regulation §40.6(a).
Nadex plans to increase the number of orders a market participant, not acting as a market maker, may submit to the Exchange via FIX connection from one order per five seconds, to four orders per one second.
In accordance with the 10-day review period set forth in Commission Regulation 40.6(b), the amendments would become effective for November 23, 2015.
To view the official submission, click here.