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NasdaqOMX, LCH.Clearnet Gain Regulatory Approval to Launch NLX

NLX will offer a range of both short- and long-term interest rate euro- and sterling-based listed derivative products with clearing on LCH.Clearnet.

Nasdaq OMX and LCH.Clearnet received the necessary approvals to launch trading and clearing for the new NLX market for interest rate derivative products.

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 will launch trading of futures products in 3-month Euribor, 3-month Sterling, Long Gilt, 2-year Schatz, 5-year Bobl and 10-year Bund. All products will be cleared through LCH.Cearnet.

“We have worked closely with the regulator in our application process and would like to thank them for their efforts and support to create this new market,” said Charlotte Crosswell, CEO of NLX. "NLX has collaborated with the market to develop a unique proposition that brings much needed competition to European interest rate derivatives,” added Crosswell.

"We look forward to launching a market that provides ease of access, efficiency and the flexibility to respond to customer demand and list new products rapidly."

Commenting on regulatory approval in the release, Alberto Pravettoni, CEO, LCH.Clearnet's Repo and Exchanges business, said: "We are delighted with this milestone, which further demonstrates the regulatory drive for an open, transparent and competitive market place. We look forward to working with NLX to bring innovative risk management solutions to the European interest rate derivatives market."

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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