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Nasdaq unveils European derivatives ambition

Breaking into the European derivatives market is notoriously difficult, but the transatlantic exchange hopes its clearing model will make it competitive

Nasdaq OMX said today that it plans to launch a new London-based interest-rate derivatives platform, making it the latest exchange to attempt to break into the tight-knit European derivatives market.

The US-headquartered exchange operator said it plans to bring competition to the European derivatives market - which is dominated by NYSE Euronext's Liffe and Deutsche Börse's Eurex - through a new derivatives platform named Nasdaq OMX NLX.

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