Oslo Bors, a Norway-based stock exchange, has begun using TradElect trading system for equities and fixed income securities together with the Infolect system for market data.

The new trading system is expected to strengthen the Norwegian securities market, improve the profile of listed companies and expected to increase the exchange’s competitiveness.

Bente Landsnes, president and CEO of Oslo Bors, said: “An important element of our strategic partnership with the LSEG is using the same trading systems as the London Stock Exchange. Collaborating on technology strengthens our international distribution network, and helps to generate even greater interest in the Norwegian market.

“The London Stock Exchange has over 400 members, and we believe that Oslo Bors will now be able to attract even more investment firms as members and so increase both distribution and liquidity for our marketplaces.”

Xavier Rolet, chief executive of LSEG, said: “Our strategic partnership with Oslo is an important relationship for the exchange and we are pleased to be able support Oslo Bors in its ongoing development of a more efficient and liquid Scandinavian marketplace.”

The strategic partnership between the London Stock Exchange Group (LSEG) and Oslo Bors was announced in March 2009. In December 2009, both Oslo Bors and LSEG’s subsidiary EDX London implemented the SOLA trading system for derivatives.

Now that TradElect and Infolect are in production, all trading carried out on the marketplaces operated by Oslo Bors uses technology supplied by LSEG.

The migration to the new trading system for Oslo Bors project involves many parties. In addition to modifications for the related in-house systems at Oslo Bors and the transfer of operating services for the trading system from Stockholm to London, the migration has made it necessary for member firms, information distributors and third-party suppliers to make significant changes.

Simultaneously with the migration to the new trading system, new membership and trading rules came into force for Oslo Bors members. The new rules replace the joint NOREX rules for the Nordic exchanges that Oslo Bors has used since 2002. The new membership and trading rules are based on the LSE rules, but with some changes to reflect Norwegian requirements.

Additionally, an important change that the new trading system will cause for investors is the abolition of post-trade anonymity for the OBX category. Post-trade anonymity was introduced in June 2008, but from April 12 all transactions in equities, warrants and ETFs traded on Oslo Bors were become fully transparent.