Linux trading system to save London Stock Exchange money

Posted by jimlynch on May 27, 2010 9:02 AM EDT
IT World; By Leo King 		Mail this story
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The London Stock Exchange has said its new open source-based trading system will save it at least £10 million annually, as well as driving new business.

Millennium Exchange, a Linux and Sun Solaris Unix-based platform, which uses Oracle databases, is being rolled out across all of the LSE's electronic trading systems, replacing the slower TradElect platform, which is Microsoft .Net based. TradElect had suffered a series of high-profile outages and will be replaced by Millennium Exchange in stages from September.

The LSE took on board the new system when it acquired Sri Lankan technology firm MillenniumIT eight months ago for £18 million. As the group today said annual operating profits had fallen 18 percent to £280.3 million, which it attributed to a challenging economy and increased competition, it booked £25.3 million depreciation costs on TradElect.

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it should save more than that tuxchick 1 1,498 May 28, 2010 11:18 PM

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