Nadex Sets 100-Contract Minimum for Sei Perpetual Futures

North American Derivatives Exchange, Inc. (Nadex), doing business as OG.com Markets, self-certified a dollar-settled perpetual futures contract tied to Sei (SEI) on Oct. 8 under Commodity Futures Trading Commission Regulation 40.2(a). The product status is Certified; the exchange’s self-certification is not a separate CFTC approval order.

The contract, identified as SEI-USD-Perp, has no expiration date and uses the CF Sei-Dollar Spot Rate as its reference. Each contract represents 1 SEI, and the minimum trading unit is 100 contracts. Its terms set a $5 million position-accountability level and a 25-contract reportable level.

Long and short holders exchange funding every eight hours, at 00:00, 08:00 and 16:00 UTC. While daylight saving time is in effect, those times correspond to 8 p.m. ET on the prior calendar day, 4 a.m. ET and noon ET. Long holders pay short holders when the contract trades above its reference index; shorts pay longs when it trades below. The recurring transfers are intended to keep the contract price aligned with the spot index.

Customers must access the contract through a CFTC-registered futures commission merchant or an introducing broker connected to one. The contract recorded two trades on Oct. 16.