Oslo Børs sets Saxess launch date

Oslo Børs sets Saxess launch date

Oslo Børs has set 27 May as the final date of implementation of its new Saxess trading system following months of delays due to technical difficulties.

In May 2001, the Scandinavian exchanges announced they would hold off the launch of the new order-driven trading platform until after the summer amid worries about "serious performance problems" in the dealer system.

One year on, Oslo Børs says it has overcome the technical problems found during former pre-launch testing. In a statement the exchange says: "New tests last weekend showed that the quality of the systems is as good as Oslo Børs and the users require. Therefore, Oslo Børs have decided to start the new trading system Monday 27 May 2002."

Until that date, Oslo Børs will complete a stable period of internal operation and make small adjustments before use of the system is extended to investment firms.

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