The London Stock Exchange's first day of testing for its
new core trading platform was a success, and was marked by a
good turnout of user companies, the exchange has said.
The
Tradelect platform was subjected to its first live test on
April 28, and remains on course to go live on June 18 if two
further days of testing on May 19 and June 2 are also a
success.
A spokesman for the stock exchange said, "It was very successful
and we had a high level of attendance of member firms.
"This was important because the idea was to simulate live
trading, so we requested that a number of our members had staff in
on the day," he said.
When Tradelect goes live, the system will cut typical
transaction times on trades from 110 milliseconds to 10
milliseconds.
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