Norwegian telco Bane Tele is to take over the operations of VPnett, the network service formerly supplied by bankrupt provider Enitel, and used extensively in the Norwegian securities market.
VPnett is used by Oslo Børs, Oslo Børs Informasjon (OBI), the Norwegian Central Securities Depository, the Norwegian Futures and Options Clearing House and local broking firms. Via the network, members can access the Oslo Børs trading systems for shares/bonds and derivatives respectively. In addition VPnett is used to distribute data produced by OBI to external information providers.
In taking over from Enitel, Bane Tele has assured the Børs that VPnett will represent an important area of activity for the company.
Follwing the winding-up of Enitel, Oslo Børs has reviewed the backup arrangements that come into operation in the event of any operational failure of VPnett. Problems previously identified in respect of certain members of Oslo Børs and with the feed from OBI have now been resolved, and relatively complete backup systems are now in place for all relevant systems based on the use of ISDN lines and the Internet.