Oslo Børs hit by further Saxess testing problems

Oslo Børs hit by further Saxess testing problems

Oslo Børs says it will miss a tentative end of April deadline for the introduction of its new Saxess trading system after identifying further technical problems over weekend testing.

Oslo Børs had previously indicated a tentative date of 29 April for the much-delayed launch of the OM-supplied Saxess trading system, subject to critical problems being identified during pre-launch testing.

"However testing of the new trading system, including its interaction with all internal support systems and third party systems, identified a number of issues over the weekend that will, in total, take some time to rectify," says the Børs in a statement.

The final date for implementation will be announced on 27 April following further comprehensive testing.

Sven Arild Andersen, president and CEO of Oslo Børs, states: "The testing program demonstrated that the systems worked well in normal operating conditions. We cannot change to the new system until the systems function are close to 100% even in abnormal situations, including trading activity far in excess of the normal volumes."

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