"After considerable consultation with our member firms and other market participants, we believe that November 8 th is a reasonable and responsible date to commence trading," said Tom Ascher, NQLX CEO. "Many of our member firms requested a Friday start date and the majority requested November 8 th which allows for the Securities and Exchange Commission's normal 35 day statutory approval process."
"We have been testing our system for months with our member firms and our technology, clearing and settlement, and regulatory partners. We will continue that process up until our launch, including member briefings and educational programs to facilitate industry preparedness. As a result, we believe that our firms will be fully prepared for the opening. With our unique market structure, innovative pricing, and the proven LIFFE CONNECT™ technology, we believe that Nasdaq Liffe Markets offers the most attractive venue to trade security futures products."
NQLX is a fully electronic, federally regulated exchange formed as a joint venture between The Nasdaq Stock Market Inc.® and LIFFE (London International Financial Futures and Options Exchange). It will initially list securities futures on both exchange traded funds and the largest U.S. companies through LIFFE's electronic trading platform, LIFFE CONNECT™. For more information on NQLX, visit: www.nqlx.com
