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Nasdaq OMX in race to attract client support
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.