Banks to test exchange’s new trading system

The London Stock Exchange is preparing to provide early access to its new core trading system as the culmination of a four-year technology refresh programme.

The London Stock Exchange is preparing to provide early access to its new core trading system as the culmination of a four-year technology refresh programme.

Later this summer all directly connected stock exchange clients, such as investment banks, will be able to connect to the system to ensure it is compatible with their own systems and processes, said Robin Paine, chief technology officer at the exchange.

The London Stock Exchange completed development of the core trading system, based on HP Proliant servers and a Microsoft .net infrastructure with a SQL Server 2000 relational database, in March.

As part of its technology overhaul the stock exchange developed its own “iBus” middleware using Micro¬soft’s C# programming language and the .net Framework, rather than buying off-the-shelf middleware. 

“iBus provides real-time, high-speed low-latency middleware,” Paine said, which was unavailable in off-the-shelf products.

In another part of the technology refresh programme, last month the London Stock Exchange simplified its broadcast data service by reducing the number of data feeds it offers from 70 to 20 channels. Paine said this simplified the administration required by investment banks.

The exchange is also looking at enhancing its Infolect “tickertape” information delivery platform by providing a high-speed dedicated network for data-intensive clients, Paine said.

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