Bourse Scot Limited, the company aiming to create a stock exchange in Scotland, has announced that the new venue will be powered by Optiq®, the trading platform of the pan-European Exchange Group, Euronext.

The arrangement enables Bourse Scot’s initiative—known as Project Heather—to benefit from Euronext’s industry-leading technology, which has been running Euronext’s own markets since June of this year. Euronext will also provide Bourse Scot with technical and operational services once the new stock exchange is live. The Scottish Stock Exchange aims to be ready for trading in the second half of 2019.

Tomas Carruthers, chief executive of Bourse Scot, the company creating the Scottish Stock Exchange, said: “We believe that Euronext’s technology, Optiq®, is the perfect choice for our initiative to build a new Scottish Stock Exchange as we will be able to take advantage of this service configured specifically for our exchange. With the new exchange we are building, the local businesses and start-ups who can drive growth in the Scottish economy will have access to a world-class platform for raising capital throughout Europe.”

Nick Thornton, Head of Euronext Technology Solutions said: “We are delighted to have been selected by Bourse Scot for this important project. Optiq® as Service enables our clients to focus on business innovation and growth while relying on our established pan-European infrastructure.”