Oslo Børs is on the verge of pulling out of a deal to replace its trading infrastructure with the new Genium Trading system from Nasdaq OMX after discovering that the transatlantic exchange has changed the content and structure of the platform.
Oslo Børs said in February that it was in negotiations with with OMX about replacing its dealing platform with the Genium system.
The exchange is currently contracted to use OMX's Click platform for derivatives and Saxess system for shares and bonds, but was planning to replace both systems with a single implementation of Genium Trading.
But in today's statement Oslo Børs says it is re-evaluating its decision after finding out that Nasdaq OMX has changed the content and structure of the platform.
Oslo Børs says an important factor in its decision to implement Genium Trading was that the platform "would be able to handle the equities, fixed income and derivatives markets in one and the same system".
But the exchange says it has now been made aware that Genium Trading will comprise three separate platforms for trading in equities, fixed income and derivatives.
"Following these changes, Oslo Børs will now take some time to evaluate the possible consequences for its future choice of trading platform," says the exchange in a statement.
OMX - which bought a 10% stake in Oslo Børs in 2006 - has said Genium will be operational for the derivatives market in 2009, with cash and fixed income to follow.