NLX

Nasdaq NLX announced on 31 January 2017 the closure of the platform, the last trading day will be 28 April 2017.

NLX have commenced the process of winding down their operations with the best interests of the market and their participants in mind.  For further updates please refer to the NLX website.

 

NLX is a London based interest rate derivatives market offering a range of both short-term interest rate (STIRs) and long-term interest rate (LTIRs) euro-and sterling-based listed derivatives.

NLX is approved as a Rates Exchange by LCH; Listed Interest Rates Eligible Products listed on NLX are registered by the Clearing House through novation.

Initial products are:

  • Euribor and Short Sterling Futures
  • Long Gilt Futures
  • Bund, Bobl and Schatz Futures

The NLX market is cleared using Synapse, the strategic derivatives clearing platform which gives members the benefit of one consolidated, consistent and comprehensive Listed Derivatives platform using FIXML industry standard messaging.

Margin is calculated using PAIRS, a VaR-based model already in use by LCH.Clearnet in other services. This approach will enable significant margin and capital efficiencies across derivatives products and act as a first step towards provision of wider efficiencies across the interest rate landscape.

More information on becoming a clearing member can be found here.

Existing clearing members wishing to clear NLX please contact listedratesmembershipsales@lch.com