Norton Rose instructed by Baltic Exchange

Norton Rose is advising the Baltic Exchange on the development of its new electronic trading platform.
The new platform will cover many of the traditional activities that take place on floor as well as offering new services, including a vessel and cargo-matching facility and analytical software to chart trends in route rates.
Norton Rose intellectual property and technology partner Mike Rebeiro led the team with financial services regulatory partner Charles Evans and senior assistants Patrick Cliffe and Keith Mukami.
Legal risk analysis, software development, online contracting, data-protection and regulation were some of the issues the team advised on.
“This is an example of one of the traditional trading places embracing new technology,” said Rebeiro.
Mike Elsom, development manager at the Exchange, said the software took about six months and was started after a long consultation period.