×

NASDAQ OMX NLX and LCH.Clearnet Receive Regulatory Approval to Launch Trading & Clearing for New Market

company logo

LONDON, May 29, 2013 (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 on a single market, and LCH.Clearnet Ltd. (LCH.Clearnet), the multi-national, multi-asset clearing house, have received the necessary regulatory approvals to launch the NLX market on Friday 31st May.

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.Clearnet.

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

"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."

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."

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 @tradenlx and LinkedIn

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).

About LCH.Clearnet

The LCH.Clearnet Group is a leading multi-asset class and multi-national clearing house, serving major exchanges and platforms as well as a range of OTC markets.

LCH.Clearnet's world-class risk management framework provides the markets with exceptional levels of protection. Both the soundness of its risk management approach and the resilience of its systems have been proven in recent times. As demand for robust clearing services continues to grow, LCH.Clearnet is committed to setting and maintaining the highest standards across all asset classes cleared.
For more information on LCH.Clearnet visit www.lchclearnet.com/media_centre

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.

CONTACT: MEDIA RELATIONS CONTACT: Thom Lant +44 207 065 8064 +44 788 038 1992 thom.lant@nlx.co.uk MEDIA RELATIONS CONTACT: Robert Madden +1 646 441 5045 +1 347 740 0191 robert.madden@nasdaqomx.com

Source:The NASDAQ OMX Group, Inc.; LCH.Clearnet Ltd.