NLX Overview

The NLX (NASDAQ OMX NLX) provides the London-based market for trading interest rate derivatives. All NLX products are cleared through a single clearing house, LCH.Clearnet, using a Value at Risk (VaR) methodology with LCH.Clearnet’s Portfolio Approach to Interest Rate Scenarios (PAIRS).

Matching Algorithms

NLX matches orders based on one of two algorithms:

  • First-in, First-Out (FIFO)
  • Pro-rata

Connectivity options

The TT® platform supports connectivity to the exchange, so you do not have to contact the exchange regarding connectivity options.