LSE's MillenniumIT technology goes live at three exchanges on three continents
First Published 16th July 2012
Borsa Italiana, Johannesburg Stock Exchange and Mongolian Stock Exchange migrate to LSE's low-latency trading platform, Millennium Exchange
Xavier Rolet, CEO, London Stock Exchange Group
"London Stock Exchange Group was very pleased to have been selected to work with the Mongolian Stock Exchange and we are delighted to have successfully delivered a world-class exchange platform."
London - London Stock Exchange Group (LSEG) has announced that within the last month three exchanges on three continents, Borsa Italiana, Johannesburg Stock Exchange and Mongolian Stock Exchange have migrated to the Group's trading platform, Millennium Exchange.
The Mongolian Stock Exchange migrated to the new platform on 2 July, marking the culmination of a 14-month project to completely modernise the country's capital markets infrastructure. As well as overhauling the market's technology, LSEG has developed an education programme for market participants and worked with the Mongolian government to re-write the country's capital markets regulations and securities law. An official launch in Mongolia is scheduled for later this year.
Xavier Rolet, CEO London Stock Exchange Group said: "London Stock Exchange Group was very pleased to have been selected to work with the Mongolian Stock Exchange and we are delighted to have successfully delivered a world-class exchange platform. The development of stable, efficient and transparent capital markets infrastructure is a vital step in Mongolia's journey towards greater prosperity. London Stock Exchange Group's MillenniumIT technology, now installed at the MSE, will create new and exciting opportunities for the country's leading companies and allow them to raise capital, in Mongolia and overseas, with confidence. We look forward to the future and continuing to work with our partners in Mongolia."
Borsa Italiana became the fourth of LSEG's markets to migrate to MillenniumIT joining London Stock Exchange, Turquoise and the Order Book for Retail Bonds. Equity, structured product and fixed income trading at the Italian exchange will now take place via Millennium Exchange. Borsa Italiana has also updated the configuration of its servers in Milan.
Johannesburg Stock Exchange also completed its migration to Millennium Exchange within the last month. The JSE moved its trading system back to Johannesburg from London - a transfer aimed at enhancing operational efficiencies and ensuring trading optimisation for market participants.
Tony Weeresinghe, CEO of MillenniumIT and Director of Global Development at the LSEG said: "These migrations serve to highlight Millennium Exchange's extraordinary versatility. From Mongolia's fledgling market to Borsa Italiana, one of Europe's largest exchanges, our technology provides world-leading latency, exceptional flexibility and scalability. The Mongolian project in particular demonstrates the speed with which our systems can be installed and activated even in a market with no history of electronic trading."
MillenniumIT technology is now installed in over thirty securities exchanges across Europe, Asia, Africa and the Americas.