The US exchange group's new platform tried but ultimately failed to break the duopoly of ICE Futures Europe and Eurex
The future of Nasdaq NLX has been in doubt
for months but Adena Friedman, the new chief executive of the
US exchange group, finally drew on Tuesday a line under the
Nasdaq bid to break into the European rates market.
Nasdaq said on Tuesday NLX will stop
trading on April 28 2017, almost four years after the ambitious
new platform went live.
launched by Nasdaq in mid-2013 to provide competition to
the incumbents in the European interest rates market. It was
backed by a number of key liquidity providers and offered free
trading to compete with the incumbent duopoly of ICE and Eurex,
as well as generous incentives to kick-off trading on the new
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