MillenniumIT goes live at Oslo Børs

Friday, 23 November 2012 00:01 - - {{hitsCtrl.values.hits}}

MillenniumIT, a leading technology solutions provider and part of London Stock Exchange Group announced today that Oslo Børs, the Norwegian stock exchange has gone live with the automated trading system (ATS), Millennium Exchange.

Millennium Exchange, a flexible, highly scalable and ultra-low latency platform, will be used for both the equities and fixed-income marketplaces at Oslo Børs. The ATS which is particularly suitable for modern trading methods, will strengthen Oslo Børs’ distribution to international broking firms and global investors.

MillenniumIT CEO and London Stock Exchange Group Director of Global Development Tony Weeresinghe said: “We are delighted to have successfully migrated another European exchange onto the MillenniumIT platform in a project which has taken less than twelve months. Oslo Børs members can now benefit from the high performance and rich functionality of Millennium Exchange, alongside other European users. This is an important milestone for London Stock Exchange Group since the Oslo Børs markets were the last still using the legacy TradElect system, which will now be decommissioned.”

Bente A. Landsnes, President and CEO of Oslo Børs said: “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.”

Oslo Børs is in the process of acquiring the Nordic MTF Burgundy and following the successful launch of Millennium Exchange Oslo Børs is also planning to migrate Burgundy to MillenniumIT technology, during the course of 2013, enabling trading in Nordic financial instruments on the same platform. Part of the London Stock Exchange Group, MillenniumIT is a premier technology solutions provider serving the global capital markets industry. The company’s products currently power exchanges, depositories, brokerages and regulatory bodies in the United States, Europe, Africa and the Asia-Pacific region.

Oslo Børs is the only regulated market for securities trading in Norway. Oslo Børs offers marketplaces for an extensive product portfolio that includes equities, derivatives and fixed income instruments. Oslo Børs is part of the Oslo Børs VPS group, which offers products and services for the entire securities value chain, ranging from marketplaces for listing and trade in securities, registration of ownership, and clearing and settlement of securities in Norway, through to market data and on-line solutions.