Oslo Børs has received permission from the Norwegian Ministry of Finance to merge Oslo Børs ASA and its Swedish subsidiary Burgundy AB, with Oslo Børs ASA as the acquiring company. The merger is scheduled for 2nd quarter of 2013.
In connection with the Burgundy migration to Millennium Exchange, circuit breakers will be defined for a selection of instruments I the "Most traded" segments (CMT, HMT and SMT).
Oslo Børs and Burgundy are pleased to confirm that we will offer market data for Burgundy on the FIX/Fast channels in addition to the ITCH channels when the Burgundy market goes live on the Millennium platform 3 June.
Oslo Børs ASA signed an agreement in October 2012 to acquire all the shares in Burgundy AB. The shares were acquired on 24 January 2013, and the boards of Oslo Børs and Burgundy have now decided to merge the two companies.
Oslo Børs ASA has received approval from the Swedish Financial Supervisory Authority (Finansinspectionen) to acquire all shares in Burgundy AB.
As previously announced, Oslo Børs has entered into an agreement to purchase the Nordic MTF/exchange Burgundy. Oslo Børs and Burgundy intend to migrate the Burgundy market to the Millennium Exchange trading platform, and we are pleased to provide information on the timetable for the migration, and to explain how interested parties can receive information and keep up-to-date about the migration project.
Oslo Børs is to take over the operations of rival Swedish exchange Burgundy as it bids to raise its market share in the Nordics and challenge Nasdaq OMX for regional dominance.
Users of Oslo Market Solutions (OMS) can now access Burgundy market data. The MIC code for Burgundy is BURG.
Burgundy, the Nordic exchange, and EuroCCP, the pan-European cash equities clearing house, announce that from today EuroCCP is to provide interoperable Central Counterparty (CCP) clearing to Burgundy.
The Burgundy trading platform is now upgraded to release 4.2 and participants have reported successful connectivity testing.
© Finextra Research 2013