Trading Guidance

NEX Exchange facilitates Retail Service Provider (RSP) connectivity to market makers’ prices via Fidessa and Proquote. Alternatively, phone-based trading is also possible.

  • The transaction may be effected via the telephone or via an electronic execution service such as an RFQ service.
  • Where there are one or more market makers registered in an NEX security, the price condition is that the unit price of the trade is within the NEX bid/offer spread.
  • The size condition for the large trade is that the value of the order to which the trade relates is “Large in Scale Compared with NMS” (“LIS”). NEX will disseminate the LIS value for each NEX security as part of its reference data service and in the parameters published here.
  • A sub-trade type may also be applicable (“X” = agency cross, “R” = riskless principal transaction, “B” = broker to broker transaction). A broker wishing to explore connectivity to the NEX Exchange trading platform for the purpose of reporting “N” and “L” trades should contact the NEX Exchange market readiness team on 020 818 9890.