London, 2013-09-23 12:32 CEST (GLOBE NEWSWIRE) --
Issue Date: 20/09/13
Effective Date: 23/09/13
Tender for Designated Market Maker Status in LTIR Futures
Introduction
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 has enhanced the competitive landscape by providing highly competitive execution and clearing fees and significant margin efficiencies.
Summary
NLX invites Participants of the NLX market to submit tenders for Designated Market Maker (“DMM”) status in NLX’s Euro LTIR futures, to enhance the market making in these products. This Market Making scheme will run from 1st October 2013 to 31st May 2014. The competitive tenders will be assessed on several metrics covering volume, spread, and the stipend required. The appointed DMM’s shall receive a 100% NLX execution fee rebate for the duration of this scheme, zero LCH.Clearnet clearing fees will be charged until 29th November 2013, and a monthly stipend to contribute towards the direct costs associated with providing the market making service. Applicants are not required to tender for all products; however broader product coverage is encouraged.
Please see the attached PDF for full details
