Nasdaq OMX Group Inc., which operates seven Nordic and Baltic exchanges, offered clients technology that allows them to access the Oslo bourse.
The so-called smart-order routing technology means traders on Nasdaq, which runs all the markets in the region except the Oslo exchange, can access the Norwegian market through the owner of the second-largest U.S. stock exchange. The service means traders can use Nasdaq’s trading system to access all five Nordic countries, the New York-based company said in an e-mailed statement today.
“Technology and connectivity are important for our customers,” said Lauri Rosendahl, senior vice president of Nordic equities at Nasdaq, said in the statement. “The new routing offering makes Nasdaq OMX a one-stop shop for Nordic equities.”
Oslo Bors, operator of the Norwegian exchange, in October agreed to buy Burgundy, an alternative trading system focused on the Nordic region, as it sought to boost volumes. Trading on the Oslo market has dropped since 2008 as the financial crisis curbed volumes and as banks, including Deutsche Bank AG, cut headcount to reduce costs. In August, the Norwegian exchange shortened its opening by an hour after requests from traders.