Nasdaq-Liffe Markets

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NQLX
Founded 2001, closed 2004
Headquarters Chicago/New York
Key People Robert Fitzsimmons; Thomas Ascher
Products single stock futures
Website (none)


Nasdaq-Liffe Markets (NQLX) was an exchange created in 2000 as a joint venture between NASDAQ and LIFFE to offer trading in security futures, including single-stock futures. LIFFE CONNECT was the electronic trading platform for all NQLX trading, not surprising given the exchange's connection with LIFFE. Given the exchange's securities influence, the Options Clearing Corporation as was chosen as the clearing provider.

In October 2004, the exchange announced that it would no longer offer contracts for trading. The existing contracts were consolidated into positions at OneChicago.

History

The partnership for NQLX was announced at the Futures Industry Association International Conference in Boca Raton, Florida, in 2001. NQLX was originally owned by NASDAQ and LIFFE. However, in 2003, NASDAQ exited the partnership as their business priorities shifted to other areas as top management changed.[1]

Warren Langley, former Pacific Exchange chief operating officer was named to lead NQLX as CEO in June of 2001, however he left the exchange two months later when he was unable to come to mutually agreeable contract terms.[2] NQLX COO Robert Fitzsimmons was named acting CEO in his place. In March of 2002, Thomas Ascher was named CEO of NQLX.

Ascher resigned from NQLX in November of 2003 and he was replaced by Robert Fitzsimmons, who served as president during a reorganization that halved the NQLX staffing.

When NASDAQ was searching for a partner to enter the newly legalized securities futures products, Trading Technologies was originally considered as a partner and technology provider.

NQLX was represented by Strategics, Inc.[3] who planned and executed their media relations strategy.

References

  1. Press Release. mondovisione.
  2. President and COO Bob Fitzsimmons Appointed Acting CEO of Nasdaq Liffe Markets. Nasdaq.
  3. Strategics NQLX Case Study. Strategics, Inc.