FinansNettNorge AS (FNN) was established on 18 June 2004. The reason its creation can be briefly summarised in three main points:
- To ensure user-managed control of the communication network relating to the trade in and settlement of financial instruments, as well as links to services that users want, ie, the participants’ functional requirements.
- To help ensure the simple and cheap connection of external services, such as national and international settlement and trading systems, national and international information distributors and other service providers.
- To ensure a network with sufficient capacity to meet the owners’ and other investment firms’ need for “backup and disaster recovery solutions”, including “business continuity” solutions.
The company has entered into an agreement with NetNordic Norway AS on the delivery and operation of the network as well as support functions. The body of agreement with NetNordic Norway AS ensures that the network at all times meets the requirements stipulated by Finanstilsynet (The Financial Supervisory Authority of Norway) in the form of the ICT Regulations and that Finanstilsynet is ensured the necessary access for its supervision work.
The network is approved as a provider of solutions for communicating with Euronext trading systems (ie Oslo Stock Exchange), including MultiCast distribution.
FNN has also entered into agreements on communication solutions that also cover communication with service providers established in countries other than Norway.
FNN tries at all times to base the network on secure and modern technology.
All FNN’s communication technology was renewed in 2017 and is now based on equipment originally delivered by Avaya Networking, which has since become part of Extreme Networks.