London Stock Exchange Group (the Group) today announced that Norwegian Exchange operator, Oslo Børs has confirmed it will be moving its equity and fixed income trading onto the Group's Millennium Exchange trading platform.
Millennium Exchange is an ultra low latency, highly scalable trading platform offering low-cost solutions to exchange businesses around the world.
Tony Weeresinghe, CEO of MillenniumIT at London Stock Exchange Group said:
"We are delighted that Oslo Børs has chosen Millennium Exchange for its trading platform. The Millennium platform will bring world beating latency, with a flexible system that can evolve as Oslo Børs develops its business."
Anders Brodin, Deputy CEO and Head of Market Places at Oslo Børs said:
"Oslo Børs has decided to use the London Stock Exchange's Millennium Exchange as it is one of the world's fastest trading systems. Latency has become an ever more important factor for market participants, and the implementation of Millennium Exchange will strengthen the competitive position of Oslo Børs.
The system is also significantly more flexible than the current trading system, which will make it easier to implement changes to respond to market developments."
A timetable for the implementation of the migration will be confirmed in due course.
In March 2009 Oslo Børs and London Stock Exchange entered into a strategic partnership to co-operate across their equities, fixed income and derivatives market. As a part of this agreement Oslo Børs has used trading technology from the Group since 2010.
London Stock Exchange Group's Turquoise Derivatives currently operates a unique "Linked Order Book" model with Oslo Børs to offer home market Norwegian liquidity to the international community connected in London. The model utilises a clearing link between London and Oslo that creates full fungibility across shared markets.