Oslo Børs had previously indicated a tentative date of 29 April for the launch of the SAXESS trading system, subject to critical problems being identified by the comprehensive pre-launch test program. However testing of the new trading system, including its interaction with all internal support systems and third party systems, identified a number of issues over the weekend that will, in total, take some time to rectify. The final date for implementation will be announced after 27 April following further comprehensive testing. Relating to the capacity in the SAXESS trading system, it behaved fully satisfactory also during these extreme comprehensive operational situations.
"The testing program demonstrated that the systems worked well in normal operating conditions. We cannot change to the new system until the systems function are close to 100% even in abnormal situations, including trading activity far in excess of the normal volumes. This is an absolute requirement for our business. The market can rest assured that when the new trading system comes into operation it will offer the same high operational quality as our existing system. This is exactly what the comprehensive program of testing currently underway is intended to ensure", explains Sven Arild Andersen, President and CEO of Oslo Børs.
The delayed launch will not have any material commercial or practical implications for Oslo Børs or participants in the Oslo market.
