Oslo Connect operational from 18 November 2009

Oslo Connect operational from 18 November 2009


As previously announced, Oslo Børs is launching a new regulated marketplace known as Oslo Connect for trading in non-standardised derivatives (OTC derivatives). The new marketplace will be fully operational from Wednesday 18 November.

Oslo Børs was granted authorisation by the Financial Supervisory Authority of Norway (Kredittilsynet) in October to establish the Oslo Connect marketplace. The new marketplace is structured as a Multilateral Trading Facility (MTF) and is based on a set of marketplace rules that will ensure higher standards of consistency and openness than an unregulated marketplace can offer.

Oslo Børs is of the opinion that OTC derivatives, i.e. derivatives that are not stock exchange listed, represent a large and attractive market in which it should be possible for investors to trade on a regulated marketplace - not least in view of the investor protection that a regulated marketplace can offer. In addition, the financial crisis has made market participants much more aware of counterparty risk. Oslo Clearing, which like Oslo Børs, is a subsidiary company in the Oslo Børs VPS group, already takes over counterparty risk on behalf of participants in both the standardised and non-standardised derivatives markets.

Trading on Oslo Connect will take place either through the EDGE trading system or through the Oslo Børs Market Place Service for derivatives (MPS).

Further information on Oslo Connect, the marketplace rules and the EDGE trading system can be found at: http://www.oslobors.no/Oslo-Boers/Handel/Handel-i-derivater/Oslo-Connect

See also the Oslo Børs press release of 15 October 2009: