The new contract provides for Oslo Børs and SMARTS to establish the obSurveX Alert Factory to provide alerts and other market surveillance functionality for both existing and future users of the market surveillance system SMARTS around the world. Oslo Børs is using the same market surveillance system.
Oslo Børs already provides these services for the Copenhagen Stock Exchange and Stockholmsbörsen, both NOREX members. As a complement to the new agreement Oslo Børs is to establish an obSurveX Committee in order to offer all SMARTS customers membership of a collaborative body for international co-operation on market surveillance.
Oslo Børs will operate the obSurveX Alert Factory for the benefit of all SMARTS customers and will be supported in this by Computershare.
This new contract makes Oslo Børs a central player in collaboration between international exchanges on market surveillance. The concept of drawing upon expertise from all users to support a common market surveillance system is a global first.
"Collaboration on market surveillance within NOREX has reached a very advanced stage. By working together in these areas we are making it possible to extend the reach of market surveillance across national boundaries in a way that was not previously possible. We are delighted to be involved in this process", comments Mats Wilhelmssen, Head of Market Surveillance at Stockholmsbörsen and the first member of the obSurveX Committee.
"This is an exciting new development, and places Oslo Børs in a central role that paves the way for closer collaboration with other exchanges and helps us to get better market surveillance, adds Sverre Lilleng, Head of Market Surveillance at Oslo Børs and the Chairman of the obSurveX Committee.
The contract that Oslo Børs has entered into with Computershare is based on normal commercial considerations, although the income it might generate will depend on whether Computershare succeeds in selling its systems to new customers. Oslo Børs believes that such sales are likely to be achieved.
