London, 2013-08-15 17:39 CEST (GLOBE NEWSWIRE) --
Issue Date: 15/08/13
Effective Date: 19/08/13
NLX Incentive Scheme
NASDAQ OMX NLX Limited (“NLX”) launched on May 31, 2013 with a range of incentives designed to enhance the competitive landscape in a range of both short-term interest rate (STIRs) and long-term interest rate (LTIRs) euro- and sterling-based listed derivative products. Market Notice 002-13 detailed the available execution fees and incentive structures.
NLX has added an incentive scheme (“the Incentive Scheme”) which is available to all Participants trading on NLX. All NLX Participants will therefore be automatically enrolled.
Qualification
The Incentive Scheme is available to any Participant (a ‘Qualifying Participant’) which, during the month:
-
Has executed at least 20,000 lots in total each week on NLX during that month;
-
Has executed at least 4,000 lots on four of the five days each week; and
- Ranks in the top 5 in executed lots for that month on NLX across all products.
The Incentive
£100,000 per month shall be split between the Qualifying Participants pro-rata in line with the number of lots each has executed, subject to a £30,000 cap for any single Participant.
The scheme shall begin on Monday the 19th of August, with a pro-rata payment for the remaining month of August.
The Incentive Scheme shall initially run until the 30th September.
Any extension will be notified by Market Memo.
For further details about this NASDAQ OMX NLX Notice, please contact:
Chris Rutt
Tel: +44 (0) 207 065 8149
Email: chris.rutt@nlx.co.uk
