London, 2015-11-10 14:30 CET (GLOBE NEWSWIRE) --
NASDAQ NLX Market Notice: 010-15
Issue Date: 10 November 2015
Effective Date: 10 November 2015
Invitation to Tender for Designated Market Makers in STIR & LTIR Futures and TED Spreads
Introduction
NASDAQ NLX (“NLX”) has decided to renew its current Designated Market Maker (“DMM”) scheme (“this Market Maker Scheme”), which will run for a period of 6 months from Tuesday 1st December 2015 (“the Commencement Date”) to Tuesday 31st May 2016. This Market Maker Scheme will replace the previously announced Scheme. This tender closes at 18:00 (UK) on Thursday 19th November 2015.
NLX therefore invites participants of the NLX market to submit tenders for DMM status in NLX’s STIR and LTIR futures, and TED spreads, as defined in Section 1 below (“the Products”). The tenders received will be assessed on several metrics, covering volume, spread, number of expiries and the stipend required. Metrics Guidance is provided at Appendix A. The appointed DMMs shall receive an execution fee rebate for the duration of this Market Maker Scheme (as outlined in Section 2 below) and a monthly stipend to contribute towards the direct costs associated with providing the Market Maker service.
The selected DMMs will be appointed by NLX following assessment of the tenders submitted under this competitive tender process. The decision by NLX to select and appoint DMMs shall be final. The appointed DMMs shall be notified of their appointed status on or around Wednesday 25th November 2015. The appointed DMMs will be engaged by NLX under the terms of the NLX Market Maker agreement, with the DMMs benefits and obligations commencing thereafter on the Commencement Date, Tuesday 1st December 2015, or the mutually agreed commencement date.
FULL DETAILS OF THIS MARKET NOTICE ARE INCLUDED IN THE ATTACHED PDF BELOW.
For further information in relation to this NASDAQ NLX Notice, please contact:
Stuart Deel-Smith:
Tel: +44 (0) 203 753 2106
Email: Stuart.Deel-Smith@nlx.co.uk
