US electronic stock exchange Nasdaq has pulled out of its joint venture with Euronext.Liffe to create a market for single-stock futures.Nasdaq said that as part of a strategic review of its business it has agreed to forgo its stake in the joint venture known as NQLX. It will transfer ownership to Euronext.Liffe, which will assume financial and management responsibility for the business.
“We will focus only on products, services and initiatives that help us achieve our goals of delivering a better solution to investors, market participants and listed companies,” said Robert Greifeld, Nasdaq’a chief executive.
Euronext.Liffe said NQLX’s management and operations would continue unchanged. “We look forward to building on the existing strong technology and operational capabilities, working closely with NQLX chief executive Tom Ascher and his experienced management team,” said Hugh Freedberg, Euronext.Liffe chief executive. “With them we look forward to growing NQLX’s security futures franchise in the US, a market which is still in its infancy.”
More on Exchanges
NYXBT will initially be based off data from Coinbase Exchange.
German exchange group signs joint venture deal with CFFEX and Shanghai Stock Exchange
A mostly positive mix of Q1 results also yield big increases in data revenues for some exchanges.
Volumes jump following revamp of Sydney bourse's clearing incentive scheme
Sign up for Risk.net email alerts
Sanjay Sharma talks about risk transparency and how his book helps achieve it.
A five-minute formula from Alexander Denev that takes you through a simple probabilistic graphical model and explains how and why these are used. Find out more about the ground-breaking book, Probabilistic...
Industry leader Vincent Kaminski discusses the challenges faced by energy markets and his new book, Managing Energy Price Risk, 4th Edition.
Momtchil Pojarliev talks about his book, The Role of Currency in Institutional Portolios, currency investing and the potential role of currencies in institutional portfolios.
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.