DGAP-News: NASDAQ OMX NLX Secures Support of Founding Participants Ahead of Launch
(firmenpresse) - The NASDAQ OMX Group, Inc.
30.05.2013 09:00
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LONDON, 2013-05-30 09:00 CEST (GLOBE NEWSWIRE) --
NASDAQ OMX NLX ('NLX'), the new London market offering a range of both
short-term interest rate (STIRs) and long-term interest rate (LTIRs) euro- and
sterling-denominated listed derivative products, 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.
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.
'UBS has worked closely with NLX in development of this strategic partnership',
said Mike du Plessis, Global Co-Head of ETD Agency Execution at UBS. 'NLX
brings competition to interest rate derivatives in Europe and the ability to
trade and clear a selection of contracts on one low cost market, which have
traditionally traded and cleared on two separate platforms. With new
regulations coming into force globally, we are keen that market infrastructure
evolves to help our clients adapt in the most efficient way. NLX offers
efficiency through low fees and the ability to clear all products through one
clearing house, creating margin and collateral savings.'
NLX will offer market participants the ability to trade futures in 3-month
EURIBOR(r), 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.
'NLX provides an attractive new market to trade interest rate derivatives',
said Nicolas Breteau, Chief Executive Officer at Newedge, a global leader in
multi-asset brokerage and clearing. 'Competitive fees and low-latency, built on
respected and well known infrastructure offer new trading opportunities. We
look forward to being an active participant in the market.'
'Regulatory change is driving the need for us to look closely at how we create
capital efficiency in all parts of our business', said Adrian Averre, Global
Head of G10 Flow Rates Trading at BNP Paribas. 'NLX has the potential to create
significant margin savings in the short, medium and long-term, which enables
our clients to invest those savings into growth activities that support the
global economic recovery and higher returns.'
'As rates traders who use futures to hedge risk exposure, we are delighted to
have a complementary new interest rate derivatives market in which to trade',
said Simon Wilson, Global Head of Algorithmic Rates Trading at The Royal Bank
of Scotland. 'NLX with its unique structure for trading and clearing both ends
of the curve on a single market and reduced execution fees can provide
significant savings for our rates trading activity.'
'The interest rate derivatives market in Europe requires competition to enhance
efficiency', said Ollie Jones, Managing Director, Pro-Trader Division at Marex
Spectron. 'NLX brings a credible, dynamic and inclusive alternative to the
current incumbents. We look forward to our clients benefiting from this unique
market.'
'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.'
About NLX:
NLX is a new London market offering a range of both short-term interest rate
(STIRs) and long-term interest rate (LTIRs) euro- and sterling-based listed
derivative products. NLX aims to enhance the competitive landscape by providing
highly competitive execution and clearing fees and significant margin
efficiencies, thanks to the use of NASDAQ OMX proven Genium Inet technology and
a partnership with LCH.Clearnet. Follow us on twitter (at)tradenlx&LinkedIn
www.nlx.co.uk
Subject to meeting the qualifying criteria, additional organisations are
eligible to join as founding participants. Please contact NLX for further
information - Tel: +44 (0) 207 065 8113, Email: membership(at)nlx.co.uk
About NASDAQ OMX Group
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels
economies and provides transformative technologies for the entire lifecycle of
a trade - from risk management to trade to surveillance to clearing. In the
U.S. and Europe, we own and operate 26 markets, 3 clearinghouses and 5 central
securities depositories supporting equities, options, fixed income,
derivatives, commodities, futures and structured products. Able to process more
than 1 million messages per second at sub-40 microsecond speeds with 99.99+%
uptime, our technology drives more than 70 marketplaces in 50 developed and
emerging countries into the future, powering 1 in 10 of the world's securities
transactions. Our award-winning data products and worldwide indexes are the
benchmarks in the financial industry. Home to approximately 3,300 listed
companies worth more than $6 trillion in market cap whose innovations shape our
world, we give the ideas of tomorrow access to capital today. Welcome to where
the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century.
To learn more, visit www.nasdaqomx.com. Follow us on Facebook
(www.facebook.com/NASDAQ) and Twitter (www.twitter.com/nasdaqomx). (Symbol:
NDAQ and member of S&P 500).
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made
under the Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These statements include, but are not limited to, statements about
NLX and NASDAQ OMX's other products and offerings. We caution that these
statements are not guarantees of future performance. Actual results may differ
materially from those expressed or implied in the forward-looking statements.
Forward-looking statements involve a number of risks, uncertainties or other
factors beyond NASDAQ OMX's control. These factors include, but are not limited
to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic
reports filed with the U.S. Securities and Exchange Commission. We undertake no
obligation to release any revisions to any forward-looking statements.
NASDAQ OMX NLX Limited ('NLX') is authorised and regulated by the Financial
Conduct Authority. NLX is a company registered in England and Wales with number
7774388 whose registered office is at 131 Finsbury Pavement, London, EC2A 1NT.
Insofar as the content of this communication is considered a financial
promotion for the purposes of section 21 Financial Services and Markets Act
2000 ('FSMA'), it is not communicated or approved by a person authorised under
FSMA. This communication is directed only at persons to whom NLX may lawfully
make financial promotions ('Relevant Persons') including persons who have
professional experience in matters relating to investments who are 'investment
professionals' within the meaning of article 19 of the FSMA (Financial
Promotion) Order of 2005. This communication must not be distributed to, acted
on or relied upon by persons who are not Relevant Persons.
NDAQG
CONTACT: MEDIA RELATIONS CONTACT:
Thom Lant
+44 207 065 8064
+44 788 038 1992
thom.lant(at)nlx.co.uk
MEDIA RELATIONS CONTACT:
Robert Madden
+1 646 441 5045
+1 347 740 0191
robert.madden(at)nasdaqomx.com
News Source: NASDAQ OMX
30.05.2013 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: The NASDAQ OMX Group, Inc.
United States
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