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NASDAQ OMX NLX secures founding participant support ahead of launch

First Published 30th May 2013

Banks, clearing, brokerage and trading firms to contribute to the provision of liquidity and open interest at NLX

Charlotte Crosswell, CEO, NLX

Charlotte Crosswell, CEO, NLX

"With this group's support, we look forward to launching and growing NLX over the coming months and years."

London - NASDAQ OMX NLX, the new London market, has secured the support of a wide range of founding participants including banks, clearing, brokerage and trading firms who will contribute to the provision of liquidity and open interest at NLX.

Key participant banks and clearing firms include: BNP Paribas, Citi, GH Financials Ltd, Nomura, The Royal Bank of Scotland Plc and UBS.

Brokerage and trading firms include: DRW Trading Group, Financial Market Engineering Ltd, Getco Europe Ltd, The Kyte Group Ltd, Marex Financial Ltd, MET Traders Ltd, Newedge, O.S.T.C. Ltd and Tower Trading Group Ltd.

NLX will offer market participants the ability to trade futures in 3-month EURIBOR, 3-month Sterling, Long Gilt, 2-year Schatz, 5-year Bobl and 10-year Bund on a single market underpinned by NASDAQ OMX infrastructure. Trades will clear through a horizontal clearing model, creating portfolio margining opportunities with the full suite of products at LCH.Clearnet.

"We have put in place a strong group of participants for the launch of NLX from leading organisations in the market", said Charlotte Crosswell, Chief Executive Officer of NLX. "As we see regulation in EMIR, MiFID ll, Dodd-Frank and Basel III become a reality; we are keen to support our clients and their customers with solutions that create greater efficiency and opportunities in their trading and clearing activities. As a low cost market with the flexibility and infrastructure to deliver those solutions rapidly, we are well placed to serve our clients' needs in this evolving market structure. With this group's support, we look forward to launching and growing NLX over the coming months and years."

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