NASDAQ OMX NLX
|WATCH: Charlotte Crosswell Talks About The New NASDAQ OMX NLX on MarketsWiki.tv (July 2012)|
|NASDAQ OMX NLX|
|Key People||Charlotte Crosswell, CEO|
|Products||Interest rate derivatives|
NASDAQ OMX NLX is the cross-product trading and clearing platform created by NASDAQ in partnership with LCH.Clearnet Ltd. The exchange, which launched on Friday, May 31, 2013, offers short and long-term interest rates on euro- and sterling-denominated listed derivatives products.
NASDAQ OMX NLX and LCH.Clearnet received the necessary regulatory approvals to launch the new market on May 29.
NLX offers trading of futures products in 3-month EURIBOR®, 3-month Sterling, Long Gilt, 2-year Schatz, 5-year Bobl and 10-year Bund. LCH.Clearnet will provide clearing and settlement services for all products. All instruments will be cleared through Synapse, LCH.Clearnet’s strategic derivatives clearing platform. Listed products across the yield curve will be cross-margined within a single clearing risk pool using PAIRS, LCH.Clearnet’s proprietary Value at Risk (VaR) based margining methodology.
Key participant 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 is structured around a new market landscape created by the Dodd-Frank Act, EMIR, MIFID II and Basel III by offering an exchange platform to clear a variety of derivative transactions including swaps.
On April 29, 2013, CQG, Inc. announced it would offer hosted connectivity to NLX starting on day one of its launch. Both trade execution and market data will be available to CQG customers from launch.
John Lothian Newsletter Charlotte Crosswell Interview
The interest rate market will get some more competition in early 2013 with the launch of the NASDAQ OMX NLX futures exchange. JLN editor-in-chief Jim Kharouf spoke with exchange CEO Charlotte Crosswell, at IDX 2012 in London, about the new exchange's move into euro and sterling-based short-term interest rate and long-term interest rate contracts, the trading and clearing platform and who will be participating in the new market. Published July 9, 2012. Watch at MarketsWiki.tv
- Charlotte Crosswell, Chief Executive Officer
- ↑ Nasday OMX NLX. NLX.
- ↑ Key Banks, Clearing and Trading Firms to Support NLX. Advanced Trading.
- ↑ CQG to Offer Day One Connectivity to NASDAQ OMX NLX. CQG.