MarketPrizm, a leading provider of market data and trading infrastructure services, today announced that it will provide market data and execution connectivity across Europe for NASDAQ OMX NLX. NLX, the new London derivatives market, will offer a range of both short- and long-term interest rate (STIRs and LTIRs) euro- and sterling-based listed derivatives products, subject to Financial Conduct Authority (FCA) approval..
MarketPrizm will provide market data and order entry for NLX members in co-location at the primary site Equinix LD4, and secondary site Interxion BrickLane, as well as from anywhere in Europe using PrizmNet, MarketPrizm’s dedicated infrastructure for the financial trading industry. Market data will be immediately available via PrizmNet’s existing low latency resilient fibre network. NLX members can also leverage PrizmNet for their post-trade clearing connectivity to LCH.Clearnet or their general clearing members (GCMs). In addition, MarketPrizm will provide NLX members with the option of managed hardware and infrastructure services.
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“We are delighted to have been chosen by NLX,” said Tanuja Randery, CEO of MarketPrizm. “The desire for customers to trade across multiple asset classes, combined with more trading migrating from OTC to exchanges, has created new opportunities for European trading venues. The launch of NLX means that market participants will now benefit from increased options in derivatives trading. MarketPrizm has continued to expand its coverage of the derivatives markets in Europe, and we are very pleased to partner with NLX.”
“NLX are pleased that MarketPrizm will offer their customers access to the NLX market for market data and execution connectivity,” said Carl Slesser, CTO at NLX. “We have targeted partners who can offer our customers straight-forward access to the benefits of lower execution fees, simplified execution on a single market for both the short and long end of the European interest rate curve, and access to horizontal clearing where all NLX products can be portfolio margined.”