NLX is said to be in talks with existing founding partners about re-papering their commercial agreements with the exchange
Nasdaq NLX is looking to add more
investment banks to its mix of participants, as reported this
week by FOW, in a bold move that will pitch the European rates
exchange into competition with the London Stock Exchange which
is similarly courting banks for its own rival initiative.
NLX has seen volumes on its exchange fall
dramatically in the past six months, from over 20,000 trades a
day at the end of last year to as little as 2,000 trades a day
The fall has been linked to
NLX’s decision to cancel the controversial rebate
schemes that had contributed to its relative success in 2014
when volumes reached 10% of the market on good days.
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