Object Trading clients go live on new London derivatives market
Direct market access provider Object Trading has connected its clients to Nasdaq OMX NLX, the newly launched London derivatives market, and they have begun live trading.
NLX, which launched on May 31, enables the trading of short- and long-term interest rate euro- and sterling-based listed derivative products on a single exchange. NLX was launched to enhance the listed derivatives competitive landscape by providing highly competitive execution and clearing fees and significant margin efficiencies as ongoing European regulatory changes impact global trading and market structure. The new market also provides market participants with unique cross-margining capabilities that can reduce the total cost of trading.
“The regulatory changes in the derivatives space bring new demands and possibilities to the market, and NLX is in a prime position to help the clients achieve execution and collateral efficiency gains,” said Charlotte Crosswell, chief executive of NLX (pictured). “We are delighted to work with Object Trading, a firm that will enable us to rapidly expand the reach of our new offering across the firms using the FrontRunner direct market access platform.”
Object Trading’s FrontRunner DMA suite provides sell-side and buy-side firms with a gateway to more than 55 equity, derivatives and FX markets globally, offering a quick time to market and low technical overhead to add additional markets. It provides normalised exchange connectivity, real-time market data, and order execution with in-line pre-trade risk constraints across all connected markets.
