New Oslo Børs trading platform for equities and fixed income instruments

Stock Markets — By on November 13, 2012 at 3:37 PM

13/11/2012  – Following a successful launch on Monday 12 November, Oslo Børs is now using one of the fastest and most advanced trading systems in the world. The Millennium Exchange trading platform is particularly suitable for modern trading methods, and strengthens Oslo Børs’ distribution to international broking firms and global investors.

Millennium Exchange is supplied by the London Stock Exchange (LSE), which has used the system for its own marketplaces since February 2011. The new trading system is flexible and highly scalable, with ultra low latency, and will be used for both the equities and fixed-income marketplaces at Oslo Børs. Oslo Børs will during the course of 2013 also migrate the Nordic Exchange Burgundy to the Millennium technology and offer trade in Nordic financial instruments on the same efficient technological platform.

“By following LSE’s choice of technology and launching Millennium Exchange, we have made it simpler and easier for broking firms that are already members of LSE to now become direct members of Oslo Børs. Increasing the number of member firms is positive for liquidity and for the market in general, and also benefits the visibility of the Oslo marketplaces and the companies that are listed here. This in turn will have a positive effect on the Norwegian capital market as a whole, and will support both the liquidity of listed shares and capital raising by listed companies”, comments Bente A. Landsnes, President and CEO of Oslo Børs.

Migration to the new trading system involved a large-scale project, with involvement not only by Oslo Børs but also by member firms, their systems and software suppliers, distributors of real-time information, in addition to MillenniumIT and LSE. The project was completed in record time, as a result of close collaboration between all involved.

“I want to thank all parties for their great efforts to reach the goal of getting Millennium Exchange in production on 12 November. We are extremely pleased with the successful launch of the new trading system. It is important for Oslo Børs to offer high quality state-of-the-art technology to ensure that our marketplaces remain competitive and to help our customers to offer even better products and services to the market”, adds Bente A. Landsnes.

 

Background: Oslo Børs and London Stock Exchange Group LSEG entered into a strategic partnership In March 2009 to co-operate on marketing and product development across their equities, fixed income and derivatives markets. As a part of this agreement, Oslo Børs has used trading technology from the LSEG since 2010. Millennium Exchange is the second trading system from LSE that Oslo Børs has implemented.

About MillenniumIT: MillenniumIT is a leading innovative trading technology firm, and is owned by the London Stock Exchange Group. MillenniumIT’s systems are used by exchange businesses around the world, and its products include Millennium Exchange, an ultra low latency, highly scalable trading platform, Millennium SOR, a smart order router, Millennium Surveillance, a market surveillance and regulatory compliance system, and Millennium Depository, providing integrated clearing, settlement and depository functions. MillenniumIT was founded in 1996, and is headquartered in Colombo, Sri Lanka.

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