Oslo Clearing has entered into an agreement with Baymarkets for licensing the Edge platform. Edge will enable traders to negotiate customized OTC derivatives directly with one another with the dual benefits of automatic Straight Through Processing (STP) and services offered within the secure network of the clearing house.
Christian SjÃ¶berg, CEO Oslo Clearing said:
âMarkets are changing, and so are our clientsâ priorities. Following the market turbulence in 2008, now more than ever our clients need the security of a regulated, stable Central Counterparty (CCP). In addition, they seek wider adoption of electronic trading for improved price transparency, faster trade capture and confirmation of trades. On this background we are pleased to announce the collaboration with Baymarkets to integrate their Edge platform with our existing systems to enable our clients to use a state of the art platform."
Peter Fredriksson, CEO Baymarkets said:
âWe are delighted to be working with Oslo Clearing. The timing for Oslo Derivatives Tailor Made could not have been better and gives clients what they need, a combination of the flexibility and depth of the OTC markets with the same security as exchange trading. Worldwide, we expect many exchanges and clearing houses to follow Osloâs lead.â