Burgundy, the alternative trading platform launched by 13 Nordic banks in June 2009, is to be sold to the operator of the Norwegian stock exchange, heightening speculation that the sector faces a fresh round of consolidation.

Oslo Børs, which runs Norway's stock exchange, is set to wholly acquire the Stockholm-based Burgundy. The deal, announced by Burgundy in a statement this morning, is subject to approval by Swedish and Norwegian regulators but is expected to complete by the end of the year. Financial terms were not disclosed.