Nasdaq OMX in race to attract client support

 
City A.M. Reporter
NASDAQ OMX is offering incentives to European trading firms in a bid to win support for its nascent futures exchange and ensure a strong start for a market aiming to boost competition in European futures trading.

The New York-based exchange is talking with banks and other trading houses, encouraging them to use NLX, a London-based futures exchange set to debut in the first quarter of next year, subject to regulatory approval.

“We are discussing a range of incentives to encourage market-making and volume growth on the platform,” said Charlotte Crosswell, the chief executive of Nasdaq OMX NLX.

In the past fledgling exchanges have offered lower fees, a share in profits or equity stakes in return for early client support.