Nadex removes FTX from Indicative Index
North American Derivatives Exchange, Inc. (Nadex) has provided a notice that it amended the composition of the Indicative Index used to determine the Expiration Value of its Bitcoin and Ether Cryptocurrency Touch Bracket Variable Payout Contracts by removing the FTX (Derivatives) effective immediately.
Nadex has not yet launched the Bitcoin and Ether Cryptocurrency Touch Bracket Variable Payout Contracts, but plans to include data from the following underlying cryptocurrency exchanges in its Indicative Index to determine the Contracts’ Expiration Value after being listed for trading on the Exchange: Binance (US), Gemini, BitStamp, Exmo, Bitso, Bitflyer (only for bitcoin), ItBit, CEX.IO, OKCoin and BTSE (Derivatives).
On November 11, 2022, West Realm Shires Services Inc. (d.b.a. FTX US), Alameda Research Ltd. and approximately 130 additional affiliated companies commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code in the District of Delaware.
John J. Ray IlI was appointed Chief Executive Officer of the FTX Group. Sam Bankman-Fried resigned his role as Chief Executive Officer but remains with FTX to assist in the transition.