– Today we pass another a milestone in our ongoing efforts to create an attractive and competitive offer to our customers. Members on Oslo Børs/Burgundy now have access to a complete Nordic portfolio of over 1, 000 Nordic equities, says CEO Bente A. Landsnes.
Oslo Børs has in the past six months, together with our customers, worked to migrate the Burgundy market on to the trading platform Millennium Exchange. Millennium Exchange is a highly flexible, scalable and low-latency system provided by MillenniumIT, a company in the London Stock Exchange Group (LSE). The platform is also used by more than 400 members on the London Stock Exchange.
By offering trading on the same platform already used by Oslo Børs, synergies are created for both Oslo Børs and our customers. Customers get easy and cost-effective access to multiple markets through a single connection point.
– The Burgundy migration project has been short and intense. Thanks to great efforts from members, their system and software providers, real time information vendors, MillenniumIT and LSE, we have reached the goal of a successful project, says Landsnes.
Burgundy offers trading in equities and ETFs listed on the stock exchanges in Stockholm, Copenhagen and Helsinki, in addition to the Swedish marketplaces Nordic Growth Market (NGM), AktieTorget and First North. The trades are cleared through EMCF, Euro CCP and SIX x-clear.
Oslo Børs has also recently presented its Nordic focus for the bond market.
Burgundy was established in Sweden in 2009 with an offer of trading in Swedish, Danish, Norwegian and Finnish equity securities listed on Nasdaq OMX and Oslo Børs. In 2012 and 2011 Burgundy expanded its offering to include shares listed on the Nordic Growth Market (NGM), AktieTorget, First North and Oslo Axess. In 2013 Burgundy became part of Oslo Børs and is authorised as a multilateral trading facility (MTF) from the Financial Supervision Authority of Norway.
MillenniumIT is a leader in trading technology, owned by the London Stock Exchange Group. MillenniumITs systems are used by stock exchanges worldwide, and its products include trading platform, smart order router, market surveillance and a system for clearing, settlement and depository functions.