NLX offers 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.
NLX will enable simplified execution of a broad range of hedge, strategy and contingent trades and will support registration of both Central Order Book (COB) and off order book trades on the same platform.
NASDAQ OMX NLX CEO, Charlotte Crosswell discusses NLX products and how the new market, with a horizontal clearing model, will benefit participants through margin efficiencies in the evolving regulatory landscape.
Clearing: In Partnership with LCH.Clearnet
NLX products will be cleared through LCH.Clearnet using an innovative Value-at-Risk (VaR) risk methodology, replacing 25-year old SPAN. The implementation of VaR margining, and support for the margining of a range of interest rate contracts across the yield curve aims to provide significant portfolio margin efficiencies.
Using VaR margining for NLX products means that a single consistent risk management methodology will shortly be in place across both NLX listed products and a range of OTC derivatives held at LCH.Clearnet.
NASDAQ OMX NLX Limited (“NLX”) has applied to the Financial Services Authority (“FSA”) for permission to operate a multilateral trading facility. There is no guarantee that the FSA will grant NLX the permission that it seeks. This website is not intended to be viewed by any person resident in the United Kingdom except persons falling within: (i) Article 19 of the Financial Services and Markets Act (Financial Promotion) Order 2005 as amended (the "Financial Promotion Order") (Investment Professionals); or (ii) Article 49(2) of the Financial Promotion Order (high net worth companies, unincorporated associations etc); or (iii) any other person to whom a an invitation or inducement to engage in investment activity within the meaning of the Financial Services and Markets Act 2000 may otherwise lawfully be made (all such persons together being referred to as "relevant persons").
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