Today Burgundy released its June statistics showing better than expected activity during its first weeks in production.
The Nordic multilateral trading facility Burgundy went live on June 12 after a soft launch period from May 8. The Burgundy trading platform is delivered by Cinnober who also manages system operations, hosting, support and maintenance.
For the full press release and statistics please visit: www.burgundy.se.
Official press release from Burgundy:
Burgundy’s first weeks—better than expected
In June, 2009:
- The average daily turnover was EUR 13.0 million.
- The average number of trades per day was 592.
- The trading participant with the highest turnover was Handelsbanken with a turnover of EUR 230 million.
- The most traded instrument was XACT OMXS30, with a total turnover of EUR 58.1 million.
Olof Neiglick, CEO of Burgundy said: “The trading has developed better than expected in Sweden since Burgundy’s launch on 12 June. The average daily turnover in June was EUR 13.0 million. On 30 June, Burgundy had a turnover of EUR 61.3 million, the highest daily turnover so far. Burgundy reached a peak market share on 29 June with 8 % of the Swedish primary market. We are looking forward to continue this positive development during this year and expect volumes to grow as participants are getting used to multi-venue trading. In the other Nordic countries; Finland, Norway and Denmark, we can see that trading participants are still tuning their solutions and processes, which means that trading is at testing levels.”
About Burgundy
Burgundy is a regional multilateral trading facility (MTF) initiative for Nordic securities. The platform is owned by a consortium of leading Nordic banks and securities trading firms who represent almost half of the Nordic equity trading volume. Burgundy offers a high-performance and cost-efficient securities trading services to participants that will strengthen the Nordic region as a financial hub. For more information about Burgundy, please visit www.burgundy.se.