Investment exchange Plus Markets has increased the number of trades it completes per month by more than six times since completing the implementation of its OMX trading platform.
Last month the exchange executed 397,422 trades, compared with 64,311 in the month before its OMX X-stream platform going live.
The exchange was granted recognised investment exchange status in last year, which enabled it to increase the variety of stocks it quotes.
Brian Taylor, chief technology officer at the company, said Plus Markets's previous systems would not have been able to process these volumes.
"Prior to 2007, technology was the biggest barrier to our growth," he said.
X-stream is a version of OMX's trading software, which is used by some 15 trading venues. Plus Markets spent £6.7m on upgrading to X-stream in a six-month project.
The previous in-house developed system enabled the exchange to deal in stocks for up to 1,500 companies. Since the upgrade this has risen to 7,500 companies, with no limit to the number of companies that can be added.
Brian Taylor said one of the advantages of using a packaged product is that it is tried and tested, so Plus Markets did not have to spend heavily on testing. Although X-stream is a package, it is possible to tweak it to meet the needs of the exchange.
"We have already started upgrading the system to add new services," said Taylor.
The arrival of the Markets in Financial Instruments Directive (Mifid), which introduces a requirement for investment firms to use multiple trading venues to ensure they have achieved the best available deal , has also increased trading volumes.
"These are extremely encouraging numbers which demonstrate that under Mifid transaction volume is flowing to Plus Markets," said business development director Cyril Théret.
Plus Markets makes its money when investment firms and brokers license its software terminal, which enables them to trade.