Oslo Connect, the multilateral trading facility for over-the-counter (OTC) derivatives operated by Oslo Børs, has started trading today.
Oslo Connect has been developed in response to expected reforms by European regulators to trade non-standardised OTC derivative instruments on a regulated marketplace with central counterparty clearing.
Trading will take place either using the EDGE platform, provided by trading system developer Baymarkets, or through the Oslo Børs Market Place Service for derivatives.
As a result of the strategic partnership between Oslo Börs and the London Stock Exchange (LSE), members of Oslo Connect will also be able to trade OTC derivatives outside Norway, via the LSE’s EDX London trading platform for Scandinavian and Russian derivatives.
According to Oslo Børs, the new marketplace will offer a higher standard of consistency and openness for trading OTC derivatives than is currently available.
Oslo Clearing, a member of the Oslo Børs VPS Group, will act as Oslo Connect’s central counterparty.