21 December 2020
One fundamental change was the switch to a new exchange system, Optiq, and new operating rules, which took effect on 30 November 2020.
TietoEVRY provides equity trading, clearing and settlement systems for almost all Nordic brokers and our customers account for a third of the trading volume. As such, TietoEVRY was instrumental in the success of the Oslo Exchange launch, preparing the Norwegian market for the new system, supporting 12 broker dealers. This type of infrastructure requires good collaboration across the parties involved, and the launch was a true joint effort between the exchange, the members and TietoEVRY.
“The transition to a new stock exchange system is a critical activity for brokerage houses and we are dependent on our central system suppliers delivering high quality. Throughout the project, TietoEVRY with ProBroker has ensured good communication and involvement. On the first day of production, ProBroker was one of the systems that performed the best,” says Øyvind Ruud, Head of IT at Carnegie.
All brokers needed to connect to the new local trading platform. With TietoEVRY’s ProBroker solution and a big bang approach, we provided our customers with the new exchange gateway, enabling them to switch from the previous trading platform “Millennium” provided by London Stock Exchange, towards the new trading platform from Euronext, Optiq. A new clearing model for derivatives was also made available given the move from SIX-X Clear to LCH SA.
With TietoEVRY’s support, our customers were able to focus on business, not technology, and adapt to market changes with minimal efforts and costs.
“With the new exchange gateway, we continue to fulfill our responsibilities as a critical agent in Nordic society. We continue to help the Nordic wealth community stay ahead of market developments. While it strengthens our position in the local market, it also opens doors for us into new Euronext markets,” says Hugo Sundkjer, Head of Capital Markets at TietoEVRY.
Read more about TietoEVRY wealth solutions and services
About TietoEVRY
TietoEVRY creates digital advantage for businesses and society. We are a leading digital services and software company with local presence and global capabilities. Our Nordic values and heritage steer our success. Headquartered in Finland, TietoEVRY employs around 24 000 experts globally. The company serves thousands of enterprise and public sector customers in more than 90 countries. TietoEVRY’s annual turnover is approximately EUR 3 billion and its shares are listed on the NASDAQ in Helsinki and Stockholm as well as on the Oslo Børs. www.tietoevry.com