MillenniumIT, a leading technology solutions provider and part of London Stock Exchange Group announced today that Oslo Børs, the Norwegian stock exchange has gone live with the automated trading system (ATS), Millennium Exchange.
Millennium Exchange, a flexible, highly scalable and ultra-low latency platform, will be used for both the equities and fixed-income marketplaces at Oslo Børs. The ATS which is particularly suitable for modern trading methods, will strengthen Oslo Børs' distribution to international broking firms and global investors.
Tony Weeresinghe, CEO of MillenniumIT and Director of Global Development at London Stock Exchange Group said: 'We are delighted to have successfully migrated another European exchange onto the MillenniumIT platform in a project which has taken less than twelve months.
Oslo Børs members can now benefit from the high performance and rich functionality of Millennium Exchange, alongside other European users. This is an important milestone for London Stock Exchange Group since the Oslo Børs markets were the last still using the legacy TradElect system, which will now be decommissioned.'
Bente A. Landsnes, President and CEO of Oslo Børs said: 'We are extremely pleased with the successful launch of the new trading system. It is important for Oslo Børs to offer high quality state-of-the-art technology to ensure that our marketplaces remain competitive and to help our customers to offer even better products and services to the market".
Oslo Børs is in the process of acquiring the Nordic MTF Burgundy and following the successful launch of Millennium Exchange Oslo Børs is also planning to migrate Burgundy to MillenniumIT technology, during the course of 2013, enabling trading in Nordic financial instruments on the same platform.