First live tests of Tradelect are a success

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.

Comment on this article: computer.weekly@rbi.co.uk