London, 2 June, 2014 – NASDAQ OMX NLX (“NLX”), the London derivatives market for trading a range of both short-term interest rate (STIRs) and long-term interest rate (LTIRs) euro- and sterling-denominated products, reaches its first 12 months of trading, capturing over 15% moving average market share in Euribor®, the world’s second largest STIRs futures contract.
”Since the launch of NLX we have developed our volumes, vendors, number of participants and the quality of our orderbook”, said Charlotte Crosswell, Chief Executive Officer of NLX. “With a Euribor® market share already over 15% and an orderbook that matches or beats incumbents’ best bid and offer up to 80% of the time, we have an established market that is attracting increasing demand from clients looking for the best price, reduced fees and initial margin savings. The quality of the market provides a springboard to launch our next generation of products and develop portfolio margining further to support our continued growth and meet customer needs.”
"UBS is delighted to mark its first year as a founding participant of NLX”, said Mike du Plessis, Managing Director, ETD Execution Services at UBS. “Following NLX’s development of meaningful market share and often additive quality in its orderbook, UBS has developed a smart aggregator that enables us to measurably and intelligently enhance the total liquidity available to our clients.”
“NLX offers something different in the European derivatives landscape”, said Andrew Chart, Senior Director, Origination and Structuring, Prime Clearing Services at Newedge. “With an established market in place, it provides a solid platform to list new products, such as options and swap futures, which can help our clients in the fast changing regulatory framework.”
“The NLX market has developed well in the first 12 months. With LCH.Clearnet as the clearing provider, participants benefit from significant offsets through portfolio margining opportunities that are not available on other markets”, said Alberto Pravettoni, Global Head, Repo & Exchanges at LCH.Clearnet. “It remains an important strategic objective for us to continue to work with NLX and the market to extend portfolio margining across additional assets.”
“The launch of NLX has created additional liquidity in the market place and new trading opportunities for our clients”, said Mark Phelps at G. H. Financials. “With the launch of innovative strategies like the suite of NLX Ted Spreads, and the quality of the NLX orderbook, there are opportunities now that didn’t exist previously. We are also seeing increasing numbers of requests from clients for market access and clearing for NLX so the future is looking bright for this market”
About NLX NLX is a new London-based market offering a range of both short-term interest rate (STIRs) and long-term interest rate (LTIRs) euro- and sterling-based listed derivative products, including: EURIBOR, Sterling, Schatz, Bobl, Bund and Long Gilt. NLX enhances the competitive landscape by providing highly competitive execution and clearing fees and significant margin efficiencies, through the use of NASDAQ OMX infrastructure and a partnership with LCH.Clearnet. To find out more visit: www.nlx.co.uk .
About NASDAQ OMX Group NASDAQ OMX (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than 3,400 listed companies with a market value of over $8.5 trillion. To learn more, visit www.nasdaqomx.com.
Cautionary Note Regarding Forward-Looking Statements Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. NASDAQ OMX cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, statements about our capital return initiatives. 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, NASDAQ OMX’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in NASDAQ OMX’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on NASDAQ OMX’s website at http://www.nasdaqomx.com and the SEC’s website at www.sec.gov. NASDAQ OMX undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
| Media Relations Contact: Martin Hedensio +46 (8) 405 6254 Martin.hedensio@nasdaqomx.com | Investor Relations Contact: Ed Ditmire +1 (212) 401 8737 Ed.ditmire@nasdaqomx.com |
