12 months after the launch of NLX, chief executive Charlotte Crosswell reflects on the early progress
A year ago, Nasdaq OMX NLX opened for business bringing
short and long term interest rate contracts onto one platform
and new competition to the European exchange traded rates
market. NLX CEO Charlotte Crosswell talks to FOW about the
first 12 months, why cynics are wrong and why so few women make
it to the top.
"What’s the similarity between NLX and West
Ham?" asked a rival of NLX in December last year playing on a
well-known joke. "They both go down after Christmas."
Six months after Christmas and the cynicism has been proved
misplaced on both counts. Perennial Premier League strugglers
West Ham finished eight points clear of relegation and NLX has
continued to grow its volumes and market share.
As NLX hits the one year milestone, it has defied many of
its critics. Last month the exchange claimed a 30 day moving
average market share in Euribor of 12% and experienced a record
day with almost 200,000 contracts traded.
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