The obSurveX product is based on an enhanced version of the Smarts surveillance system supplied by the Australian company Computershare Technology Services Limited. ObSurveX comprises a combination of the supply and technical operation of Smarts, together with professional services from Oslo BÃ¸rs.
Under the agreement, a centre of expertise in market surveillance will be established at Oslo BÃ¸rs that will work with the participating exchanges. Each exchange will also continue to carry out market surveillance in its own right. The new centre of expertise will principally be involved in systems production and the development of alarm features.
The joint commitment to market surveillance is seen as an important step towards harmonising the operation of the marketplaces in the Nordic regions.
Sven Arild Andersen, president of Oslo BÃ¸rs, says: "A co-ordinated focus on the prevention of market abuse will further strengthen the Norex alliance, and will lead to a better market for Nordic securities."