Launch of Burgundy!

12 Jun 2009

Today is the launch of Burgundy - what will happen?

Olof: During the testperiod that we have had, we have only traded a limited number of securities. Now we will offer trading in all Swedish and Norweigan listed securities and the most traded securities in Finland and Denmark.

What are your expectations - will all trading move to Burgundy now?

Olof: Our goal is to reach a market share of 25 percent by the end of next year. BUT this is the long term goal and we do not have any expectations that this will happen with in a week, month or not even within a few months. In this region the market is dominated by two incumbent exchanges, so we see that volume and liquidity will build up over time.

Why is that? Is it not more attractive to trade on Burgundy than on other market places where this securities are being traded?

Olof: Yes we have a very attractive offer with no fixed fees, paying for liquidity providers and very competetive trading fees – also we disseminate realtime market data for free. This is a big change to almost everyone and you do not change behaviour over night and you do not move liquidity over night either.

So how did the testing period go - are all the participants ready to trade now?

Olof: The testing period went well. The participants are ready to start for real now, a few of them has to finetune the technology for another week and then they are all set. Everyone seems to be excited and look forward to start trading in full scale.

Olof's wor(l)d archive

23 March 2012 Improvement of Burgundy's best prices and spreads
17 February 2012 Nordic bank empower retail clients with Nordic Light!
22 December 2011 Holiday Greetings
26 October 2011 Latency enhancement
28 September 2011 ETF volumes up more than 100%
06 September 2011 Annual Report Survey
08 August 2011 Breakthrough in media reporting
12 July 2011 Listing at Burgundy
04 May 2011 Another milestone passed
28 March 2011 New data centre as from today
03 March 2011 Best execution service through Burgundy and LiquidMetrix
21 January 2011 Going the American way...
23 December 2010 Christmas Greetings
07 October 2010 Finland - the country of the month!
01 September 2010 Where are the SOR's ?
10 August 2010 Traders on the beach
08 July 2010 Consolidation revisited
21 May 2010 Competitive offer in NGM shares at Burgundy!
04 May 2010 Time to include all market data in media reporting!
07 April 2010 5.5 percent market share in OMX S30
10 March 2010 Doubled trading activity at Burgundy
25 February 2010 Xact at Burgundy
19 February 2010 Who pays 5 USD/minute calling Australia?
19 February 2010 Read Veckans Affärer this week!
27 January 2010 Trade records in January
22 December 2009 28% of Nordic equities are now traded outside the stock exchanges...
14 December 2009 50 % trading outside exchanges...
19 November 2009 "MiFID hits main street" says Fidessa
09 November 2009 CCP introduced - attracting international capital
09 November 2009 Bank Market day 12 November, Olof speaks - come!
15 September 2009 Two new trading participants; Erik Penser & UBS!
03 September 2009 Burgundy in Fidessa Fragmentation Index
28 July 2009 4.5% of Primary market
14 July 2009 Increased volumes
29 June 2009 3.5 % of Primary market
27 May 2009 Event: How to stay competitive in a fragmented market!
22 May 2009 Norwegian shares on
15 May 2009 Danish equities on board
08 May 2009 Burgundy's first day of trading
06 May 2009 Approval by the Swedish FSA
04 May 2009 Preparations to get started