Burgundy to migrate to Millennium Exchange in Q2 2013
17 December 2012 | 1993 views | 0
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.
Together with Burgundy, Oslo Børs will offer a competitive and effective alternative in the Nordics. Burgundy offers trading in more than 1,000 listed Nordic shares, in addition to other products such as warrants, ETFs and certificates. Over the last three years, Burgundy has established a growing market share of equities trading in the Nordic. Oslo Børs and Burgundy will together build a platform for growth and will be a strong and viable competitor both to other Nordic Exchanges and to foreign trading platforms that offer trading in Nordic securities.
We intend to migrate the Burgundy market to Oslo Børs' current Millennium Exchange trading platform, with all current functionalities.
The plan is to launch the Burgundy market on Millennium Exchange early in the second quarter of 2013. The go-live date will be confirmed early 2013. A more detailed timetable with defined milestones will be published as soon as possible.
At this stage, we would ask customers and third party suppliers to pay particular attention to the following when planning their own internal processes for the migration:
• Oslo Børs and Burgundy are planning to arrange information meetings in Stockholm, Oslo and London in the middle of January 2013, at which we will present our migration project with important information with regards to time table, technical implementation and the market models. Invitations to these meetings will be sent out shortly.
• We will use the same technical documentation as for the Oslo Børs Millennium migration, with some additional information about how the Burgundy market is implemented.
• We aim to make it as easy as possible for members and vendors to access both the Oslo Børs and Burgundy markets. The access to one or both market places will be regulated in the membership agreement and in the enablement setup from Oslo Børs. Members can use one single connection to access both markets.
• For testing purposes the Burgundy market will be launched in our eexisting test environment (CDS - customer development services). We aim to open the CDS in early February 2013.
• We aim to issue enablement information ahead of the information meetings planned in January. Existing Oslo Børs members may use their existing enablements directly with very few amendments.
We expect to arrange two 'dress rehearsals' before the new market goes into production. Further information regarding these will be distributed.