Burgundy, a multilateral trading facility (MTF) for Nordic stocks, will use the Radianz Shared Market Infrastructure connectivity network from telecoms provider BT to provide its members with high-speed connectivity for order flow and market data.
“We chose to work with BT because they have a demonstrable track record as a trusted provider of high-speed connectivity and other services,” said Olof Neiglick, CEO of Burgundy, in a statement. “The Radianz Shared Market Infrastructure provides quick and easy access to the financial community as well as ultra speed, low-latency connectivity. In addition, we needed to move quickly to get this infrastructure in place and BT is able to meet our timetable for delivery.”
Burgundy is scheduled to launch in May this year. The MTF is backed by 14 of the largest Nordic financial institutions: Avanza Bank, Danske Bank, D. Carnegie & Co, DnB NOR, Evli Bank, HQ Bank, Kaupthing Bank (Sweden), NeoNet, Nordea, Nordnet, SEB, Svenska Handelsbanken, Swedbank and Öhman. The platform wiill use pan-European clearing house European Multilateral Clearing Facility as its central counterparty.
BT’s Radianz Shared Market Infrastructure is a dedicated network for the financial services industry, providing connectivity to a global community of trading-related partners, financial applications and services.