According to a report by International Banking Systems Journal, the London Stock Exchange has confirmed that it is replacing its existing Microsoft .NET based TradElect system, supplied and supported by Accenture, with a Linux based system from MillenniumIT. The Sri Lankan company MillenniumIT has been purchased by the LSE for $30M and is core to the LSE's plans. David Lester, director of information and technology at the LSE says "The new technology is a lot lighter, nimbler and easier to install".
According to the report the new platform is not exclusively Linux, but a mix of Linux and Solaris. The LSE plans to migrate both itself and its Italian subsidiary, Borsa, to the new platform. The LSE predicts cost savings of at least £10 million in 2011/2012 when the new platform is running.
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