Burgundy, a Nordic multilateral trading facility (MTF), has applied to operate a regulated market as an exchange for listing and trading warrants, certificates, exchange traded funds (ETFs) and structured products.
The application was filed on 19 May with Finansinspektionen, the Swedish Financial Supervisory Authority.
Burgundy, which is owned by a consortium of local financial institutions, said it had no plans to offer a listing service in shares. “Our customers would like Burgundy to offer a listing and trading service for warrants, certificates, ETFs and structured products. To fully support this and satisfy our customers request to list their products on a regulated market, Burgundy applies to become an exchange,” said Olof Neiglick, CEO of Burgundy.
The MTF has offered trading in securities listed on Norway, Sweden, Finland and Denmark since June 2009. In April, Burgundy accounted for €1.75 billion, or 0.22%, of pan-European trading, according to data vendor Thomson Reuters. It has so far had most success in Sweden, where it traded 2.53% of blue-chip liquidity in April