26 April 2013: Three separate items which together indicate a concerted strategic move by NASDAQ into fixed income electronic execution partnering with “horizontal” derivatives CCPs:
- Philadelphia exchange: launch of exchange traded US Treasury options cleared at OCC
- New York: acquisition of eSpeed US Treasuries ECN from BGC
- London: upcoming launch of NLX IR futures exchange – cleared / portfolio margined at LCHs futures CCP (PDF)
Jon
REforming FINinanctial Derivatives 