“The decision by the Copenhagen Stock Exchange to co-operate with Oslo Børs in the IT area represents a clear signal that we have moved in the right direction in this area over the recent past. I find it particularly pleasing that Oslo Børs, which actually represents quite a small market, is well placed to operate business-critical IT systems for other exchanges. These developments also demonstrate the synergy benefits created by the NOREX alliance" comments Sven Arild Andersen, President of Oslo Børs.
The two exchanges signed an agreement in April last year that mainly related to the development of support systems for the Saxess trading system. This co-operation initially extended to setting up a joint data warehouse and index calculation system as well as developing a transaction system to integrate the trading system with support systems. The new agreement represents an extension of the existing agreement to provide for the exchanges to establish a joint strategy and management model for the development of their support systems.
