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Oslo Børs will take the role as the calculation agent for the Norwegian interbank offered rate Nibor as of 9 December 2013. The Millennium Exchange trading system will be used both in the context of collecting the panel banks’ Nibor contributions as well as to distribute the Nibor-fixings. Please view the essence of the relevant changes that market participants can expect in the days prior to production setting of Nibor on Oslo Børs below.
Oslo Børs will verify the configuration of the production set-up in the weeks before the go-live date. As a result:
- The format of the reference data files will be changed:
- The change in the reference data file-format will be in effect as of Monday 2 December 2013. The change involves two new fields in the file "Trading " and one new field in the file "Index". All changes will be visible in both the csv- and the xml-versions of the files. Please see detailed description in OSLMIT401 Reference Data issue 2.2. The format described in OSLMIT401 Reference Data issue 2.2 corresponds with the files available in the CDS environment today.
- The instruments representing the indicative deposit rates will be introduced in a new segment "NIBO" as of 2 December, but not activated until Monday 9 December.
- Reference data files in the new format are distributed Friday 29 November after market close according to the normal schedule.
- There will be entered Nibor relevant parameters into Millennium Exchange from Thursday 28 November and onwards (eg calendar, session parameters, parameter trading, post-trade parameters), but this does not involve any format change for the reference data files.
- Oslo Børs will not parallel produce reference data files in the old format. All changes in the data format are thereby mandatory for all users of reference data, regardless of whether the user will use Nibor or not.
- The Nibor panel banks must give their final specification of their Nibor production enablement to Oslo Børs before 28 November. They will also be involved in supplementary activities in addition to the above during the specified period.
- Market Data: As previously announced, the content of the FIX / FAST and FAST OBFIF Indices will be updated as of 9 December. Members and further distributors who have signed an agreement for distribution of Nibor information must make sure to filter out Nibor information from these channels.
The market model for Nibor can be found here:
