We are in the midst of some serious and hectic operating metrics reporting by online trading companies from across the globe, with the North American Derivatives Exchange (Nadex), part of IG Group Holdings plc (LON:IGG), adding to the chorus earlier today.
The exchange, which is one of the handful of venues for trading binary options in the United States, has just announced some strong results for the first quarter of 2015. Volume of binary options and spread contracts traded on the exchange surged by 38% in the first quarter of 2015, compared with the first quarter of 2014 which also saw some solid metrics. Therefore, we can see a trend of continuous trading activity growth on Nadex.
The robust trading results are in line with the trading update recently released by IG Group.
Across various instruments, 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 attributes the success to the growing popularity of exchange-traded binary options. Binary options and spreads are available nearly 24 hours a day, with a wide variety of intraday, daily and weekly expirations on the exchange. The venue has boosted its offering and provides new trading opportunities in the most popular stock indices, commodities, and forex markets. 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.
Tim McDermott, chief executive of Nadex, commented:
“For the second year in a row, we’ve seen a record number of active traders in the first quarter. 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.”
To view the official press release by Nadex, click here.