Nasd to regulate Nasdaq Liffe Markets
15 March 2002 | 2453 views | 0
The National Association of Securities Dealers (Nasd) has signed a five-year agreement to provide an integrated suite of regulatory services to Nasdaq Liffe Markets (NQLX).
Under the agreement, Nasd will provide NQLX with a range of services including post-trade market and trade practices surveillance; financial and operational surveillance; formal disciplinary action; formal dispute resolution; member application review; routine and cause examinations/investigations; and Central Registration Depository (CRD) administration.
Nasd has hired former special advisor and counsel to the chairman of the Commodity Futures Trading Commission De'Ana Dow as director and chief counsel, futures to head the operation.
NQLX - the joint venture between The Nasdaq Stock Market and the London International Financial Futures and Options Exchange to create a marketplace for the trading of security futures products - yesterday named the first group of financial institutions to be admitted as NQLX clearing members once trading begins.
In a well timed announcement, rival marketplace OneChicago, the joint venture created to trade single stock futures and narrow-based stock indices by Chicago Mercantile Exchange, Chicago Board Options Exchange and Chicago Board of Trade, has today also named its 24 initial lead market makers for the launch of its trading platform.