The North American Derivatives Exchange (Nadex), a regulated online binary options exchange in the United States, has appointed Donald Horwitz as general counsel and chief regulatory officer.

In his new role, Horwitz is responsible for providing counsel and guidance on all regulatory and legal matters within the exchange. He will join as a member of the senior management team reporting to Timothy McDermott, who is transitioning from his role to assume full responsibility as Nadex's CEO.

Horwitz joins Nadex from the Intellectual Property Exchange International, where he served as a managing director and general counsel, focused on providing strategic advice on all legal, governance and regulatory matters. He has also worked as managing director and general counsel, and chief regulatory officer at OneChicago.

His previous financial experience includes holding various positions for the SEC, Merrill Lynch, BrokerTec Futures Exchange,The Options Clearing Corporation, and ABN Amro.