LSE to move cash markets to MillenniumIT platform

Angelica Mari, Computing, Wednesday 3 February 2010 at 16:55:00

First migration phase to take place in September

The London Stock Exchange (LSE) is planning to move its UK equity markets to
its new trading platform in September.

The transfer to the new systems developed by MillenniumIT, the Sri Lankan IT
firm LSE acquired in 2009, will be the first stage of a phased migration.

Other markets to be moved on to the new IT set-up include the LSE's Italian
and Johannesburg operations. The firm's recently launched order book for retail
bonds will not be part of the first migration stage and will continue to operate
on the bourse's current systems.

The process will lead to the decomissioning of the LSE's current trading
platform TradElect, as well as an intended reduction of trading speed from 2.7
milliseconds to just under a millisecond.

The exchange told its clients that one of its main concerns was to minimise
the time and resources they would need to devote to transfering to the
Millennium Exchange.

"We will attempt to minimise disruption as much as possible by providing
early access to the Millennium Exchange software through our customer
development service. This will give clients the ability to develop their code as
early as possible, enabling overall market readiness," the LSE said in a user
update.

Full story at http://www.computing.co.uk/computing/news/2257280/lse-move-cash-markets