Burgundy in Fidessa Fragmentation Index

Where can you see the fragmentation and in particular Burgundy’s part of it?
Olof: An interesting tool for studying the fragmentation is Fidessa’s Fragmentation Index. Burgundy is now included since this week  and you can find it on: www.fragmentation.fidessa.com . This tool measures the progress of the new MTF’s versus incumbents across European main markets. Many thanks to Steve and his crew at Fidessa as we now are able to follow how Burgundy is doing on a weekly basis.

I heard that there were a lot of people at the Grand Hotel yesterday (2 September), what happened there?
Olof: Many thanks to Affärsvärlden who arranged a highly successful event attracting 250+ guests at their Securities Trading conference at the Grand Hotel in Stockholm. Last year, we saw about 80 delegates to a similar event so this was some kind of ketchup effect we experienced here. One of the prominent speakers said that he was surprised of how many Nordic securities firms that do not offer access to new pools of liquidity. He also said that he had to take his business offshore to get the best prices. I bet that statement got some sell-side people a bit nervous.

Is there any interest in the other Nordic countries?
Olof: When I did Burgundy’s first appearance in Oslo last September, I managed to get 18 people during lunchtime. Next week, Burgundy is organizing a Fragmented Trading Conference in Oslo,  and we have 120+ registered delegates. Quite some difference! We are really looking forward to continue the interesting discussions in Oslo.

How is the trading at Burgundy developing?
Olof: The trading at Burgundy is highly dependent on the trading participants’ level of automation. Most of the flow we have seen is manual trading related. When all trading participants have the technology in place we expect the volumes to increase. The average daily turnover in August was EUR 52 (46.6) million. The turnover record for the month was on 25 August, with a turnover of EUR 148.2 (173.6) million. Burgundy’s average Swedish market share was 3.8 % (of the primary market) during August and reached a peak market share of 9%. The other Nordic countries; Finland, Norway and Denmark are still at testing levels and we expect them to get started later this year.