Burgundy, a multilateral trading facility for trading Nordic securities, will use the Radianz Shared Market infrastructure to provide connectivity services for order flow and market data. The MTF is owned by 10 of the largest Nordic banks and brokers and is said to be a competitor to Nasdaq OMX Group for trading Scandinavian stocks.
“We chose to work with BT because they have a demonstrable track record as a trusted provider of high speed connectivity and other services. The Radianz Shared Market Infrastructure provides quick and easy access to the financial community as well as ultra high-speed, low latency connectivity,” stated Olof Neiglick, CEO of Burgundy in the release. “In addition, we needed to move quickly to get this infrastructure in place and BT is able to meet our timetable for delivery,” further stated Neiglick.
The Nordic banks and securities firms announced plans to start the regional trading plaform in June of 2008. Burgundy is expected to go live in the second quarter of 2009.
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