The London Stock Exchange claims its Turquoise trading platform is now the fastest in the world, following its migration to the MillenniumIT core trading system.
By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.
The exchange said the average time taken to complete a trade is 126 microseconds, with 99.9% of trades completed in less than 400 microseconds.
The London Stock Exchange primary market will switch to MillenniumIT next month.
The Linux-based platform was acquired when the London Stock Exchange acquired MillenniumIT for £18m in September 2009. MillenniumIT is a specialist trading system supplier based in Sri Lanka.
Tony Weeresinghe, who is in charge of MillenniumIT, told Computer Weekly in May that there has been a lot of work at the infrastructure level to increase the performance levels, such as trading speeds, at the London Stock Exchange. But he added, "You can rest assured we will be the fastest in the market."
Turquoise previously used off-the-shelf technology, including its core trading platform from supplier Cinnober, and a combination of Progress Software and Detica technology for its market surveillance application. It migrated to MillenniumIT earlier this month.
David Lester, CEO of Turquoise said, "The consistent low latency and responsiveness of our new trading platform will underpin the next stage of Turquoise's growth, offering our clients greater risk control and improved certainty of execution, which will lead to tighter spreads and a deeper liquidity pool."