We demonstrate full flex-grid operation with Nyquist frequency division multiplexing. The technique supports high spectral efficiency, asynchronous operation of channels, variable channel loading with different modulation formats and dynamic bandwidth allocation. Data from different sources with different bit and symbol rates are encoded onto electrical Nyquist pulses with different electrical subcarrier frequencies, and then transmitted optically. We give details on the transceiver design with digital signal processing and investigate the implementation penalty as a function of several design parameters such as limited filter length and effective number of bits. Finally, experiments are performed for receivers with direct detection, intradyne and remote heterodyne reception.