The new agreement grants Univits International AB 30 million SEK for Nordic Growth Markets exclusive right to the exchange system Tellus for the Nordic and Baltic region. Univits will continue its focus and investments in exchange technology and other products for the financial sector.
Since the Nordic equity and derivatives exchange NGM, launched electronic trading, our co-operation has been very close. This has been a prerequisite to create the foundation of a competitive alternative in the Nordic region. The new agreement will enable NGM to develop their platform as they see fit. Our co-operation will continue to be close and we will follow the development of NGM with great interest.
Nordic Growth Markets recent success gives Univits acknowledgement within financial technology as well as proved experience from a commercial launch and establishment of something as complex as an electronic exchange. This provides us with a good opportunity to further develop our products and Univits as a company; we are currently working on the development of a new product which we plan to offer the market later this year says Lars carlbom, CEO of Univits International AB.
