22nd January 2010
By Colin MacDonald
Preparations are underway for the London Stock Exchange's (LSE) shift over to a Linux-based platform.
Computerworld reported that at the end of this year, the LSE will complete its transfer to MillenniumIT, a trading platform that runs on Linux.
It is currently running on a Microsoft.Net based system called TradElect, which has caused problems for the stock exchange in the past with outages.
TradElect was upgraded two years ago by Accenture.
It was a £40 million project.
The LSE believes that the move to the Linux platform will bring a number of advantages and an "agile, efficient, in-house IT development capability".
MillenniumIT was set up in 1996 and was initially a Sri Lankan-based systems integrator, moving into application software afterwards.
It developed a trading platform after receiving a contract from the Colombo Stock Exchange, which formed the model for all of its subsequent software for capital markets.
Now its reach is global.
Category: Internet Trends
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