Illiquid Markets. Market Maker may refrain from submitting Post-Only Quotes during a period of illiquid underlying markets defined as, thinly traded markets in particular time periods as determined by Nadex from time to time and made public via posting on its website. A Market Maker that chooses to submit Post-Only Quotes during an Illiquid Market period will be required to comply with the Defined Spread and Defined Size requirements as set forth in Appendix A.
Illiquid Markets. Market Maker may refrain from submitting Post-Only Quotes during a period of illiquid underlying markets defined as, thinly traded markets in particular time periods as determined by xxxxxx.xxx | Derivatives North America from time to time and made public via posting on its website. A Market Maker that chooses to submit Post-Only Quotes during an Illiquid Market period will be required to comply with the Defined Spread and Defined Size requirements as set forth in Appendix A. (b) xxxxxx.xxx | Derivatives North America may amend the definitions of Modification Events and its applicable Rules unilaterally by providing 10 days’ written notice to the Market Maker. To the extent reasonably possible and practicable, xxxxxx.xxx | Derivatives North America will consult with the Market Maker and other relevant Market Makers prior to amending its Modification Events Rules. 5 CONFIDENTIALITY
Illiquid Markets. Liquidity refers to the ability of market participants to buy and sell securities. Generally, the more orders that are available in a market, the more liquid the stock. Liquidity is important because with greater liquidity it is easier for investors to buy or sell securities, and as a result, investors are more likely to pay or receive a competitive price for securities purchased or sold. I understand that Extended Hours markets tend to be more illiquid than markets operating during regular market hours. NASDAQ market makers and exchange specialists will frequently not provide Extended Hours quotes, so there may not be concurrent buyers and sellers for a stock, or the prices to buy and sell a stock (or the "spread") may be far apart. This means that any order I enter during an Extended Hours Session may only be partially executed, not executed at all, or may be executed at a less advantageous price than I might have received in a liquid market. Volatility. Volatility refers to the changes in price that securities undergo when trading. Generally, the higher the volatility of a security, the greater its price swings. I understand that Extended Hours markets may be more volatile than markets during regular market hours - especially if there is breaking news or discussion in chat rooms about a particular security. This means that my order may only be partially executed or not at all. My order may also be executed at a price that is significantly worse than prices that were available during the preceding day or that may be available during regular market hours.
