LSE migrates to Millennium Exchange trading platform

The London Stock Exchange has completed a move to a Linux-based trading platform for its UK cash markets.The SUSE Enterprise Linux platform, called Millennium Exchange, runs on commodity Intel hardware and has been designed to reduce trading latency, the London Stock Exchange Group (LSEG) announced on Monday.

The London Stock Exchange has completed a move to a Linux-based trading platform for its UK cash markets.

The SUSE Enterprise Linux platform, called Millennium Exchange, runs on commodity Intel hardware and has been designed to reduce trading latency, the London Stock Exchange Group (LSEG) announced on Monday.

"Today's roll-out of Millennium Exchange for our UK cash markets demonstrates our continued commitment to technology innovation in the marketplace," Antoine Shagoury, chief information officer for the LSEG, said in a statement. "This migration... marks a key milestone in the introduction of tightly integrated transaction technology across our markets."

The exchange's Microsoft .NET-based TradElect platform will be replaced by Millennium Exchange. "The average [trading] speed on TradElect last week was 1.6 milliseconds, but now it will certainly be sub-1 millisecond," a spokesman for the LSEG said.

The Linux upgrade was originally slated for November, but was postponed at the last minute after a Millennium Exchange-based trading platform was knocked offline in suspicious circumstances.