CME/NEX
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Company Overview
NEX was ICAP’s electronic broking business that was spun out of the company after the hybrid/voice operation was taken over by Tullett Prebon in 2015. The company listed on the London Stock Exchange and remained independent until CME Group purchased NEX for US$5.5 Billion in November 2018 The strategy is to combine CME’s trading in listed foreign exchange and US Treasury fixed income futures and derivatives with NEX’s over-the-counter- cash market broking. The four electronic platforms operated by NEX are: •Brokertec: Fixed Income Feb 2020 Notional Average Daily Volumes US$190 Billion •EBS: Foreign Exchange Feb 2020 Notional Average Daily Volumes US$90 Billion •Traiana: Trade processing, settlements, credit risk & trade life cycle platform •Tri-Optima: Portfolio compression, reporting, risk, CCP risk & valuation platform CME will complete the migration of Brokertec and EBS to Globex by end of 2020
Data Source
Europe
Electronic Trading
Corporate Details
| Date of Update | Unknown |
| Headquarters | London, United Kingdom |
| Established | 2015 (Date spun out of ICAP) |
| Market Cap US$ | N/A |
| Revenue US$ | >600 Million (Est) |
| Employees | >2,000 |
| Ownership | Private: Chicago Mercantile Exchange Group |
| Management | Director: Richard Bodnum Director: Kathleen Cronin Director: William Knottenbelt |
Website Analysis
| URL | https://www.nex.com |
| Alexa Rank | 2,605,901 |
| Type | Data Source |
| Client Case | Electronic Trading |
| Coverage | United Kingdom, Argentina, Australia, Canada, China, France, Germany, Israel, Hong Kong, Japan, Singapore, Switzerland, Sweden, & United States |
| Asset Classes | Unknown |
| Trading | YES |
| Terminals | Unknown |
| Feeds | YES |
| Analytics | YES |
| Compliance & Risk | YES |
| Indices & Benchmarks | YES |
| Reference Data | YES |
| Economic Data | Unknown |
Key Products & Services
Brokertec: Provides price discovery, and analytics for US Treasuries, European Government Bonds and European Repurchase Agreements EBS: FX and Money Market platform for price discovery and analytics. EBS Direct for liquidity consumers connect to liquidity providers for executable and request for stream prices. EBS Select offers a non-disclosed execution service, EBS Hedge spot FX pool for inter-bank counter-parties, and eFIX Matching Service a central market utility to reduce benchmark fixing risks Data: NEX provides real-time and historical pricing with analytics covering markets traded on NEX platforms FX, Money Markets, Fixed Income
Business Potential
| Presence | United Kingdom, Argentina, Australia, Canada, China, France, Germany, Israel, Hong Kong, Japan, Singapore, Switzerland, Sweden, & United States |
| Market | Institutions Banks, Commercial Banks, Hedge Funds |
| Competition | BGC Partners/Fenics, Bloomberg, MarketAxess, MTS, NASDAQ Trader, TP ICAP, Tradeweb, Tradition |
| Availability | Direct from CME, NEX & Market Data Vendors |
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