The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Just One To Go For TradElect

With Oslo Børs moving to the LSE’s Millennium Exchange technology sometime soonish, it looks like flicking the off switch for TradElect is moving closer. The exchange has already migrated its main market and its Turquoise MTF to Millennium, so moving Oslo’s market will mean just Borse Italiana remains in the slower-latency world.

It does all rather highlight how even secondary markets (in a global sense) are needing to keep up in the latency stakes, and – perhaps unlike other market participants – for exchanges it does seem to be an accelerating target.

Just to recap, TradElect was introduced in 2007. Developed by Accenture, based on Microsoft technology, it reputedly cost some £40 million, and had a matching speed of 3.7 milliseconds. The Millennium platform – which came with the October 2009 acquisition of MillenniumIT – went live for the LSE’s main market in February. Actual latency figures are not known (to me, at least) but MillenniumIT has spoken of tests where it acheived matches in 130 microseconds, which it expected to be pushed significantly lower.

Several other Nordic markets are owned by Nasdaq OMX, and run on their own matching technology, which anecdotally is capable of sub 100 microsecond matching.

Related content

WEBINAR

Recorded Webinar: MiFID II: Is the market truly ready? Will compliance be achieved?

Don’t miss this opportunity to view the recording of this recently held webinar. This market facing webinar aims to share insight and best practices so you can be more successful in Markets in Financial Instruments Directive II (MiFID II) compliance. To support this, the webinar will provide access to the latest results of a global...

BLOG

Luminex Teams with LeveL for ATS Matching Engine Upgrade

Buy-side block trading platform operator Luminex Trading & Analytics has launched a new, faster matching engine using technology provided by erstwhile competitive platform LeveL ATS. The new platform represents what Luminex calls a “dramatic speed upgrade” to the matching engine behind its dark pool, which is available only to buy-side institutions. Luminex launched in 2015...

EVENT

LIVE Briefing: ESG Data Management – A Strategic Imperative

This breakfast briefing will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

Tackling the Data Management Challenges of FATCA

As the July 1, 2014 deadline for compliance with the Foreign Account Tax Compliance Act – or FATCA – approaches, financial institutions around the world are working to ensure their data management and operational systems will meet the requirements of the US legislation. This report discusses the requirements of FATCA and how the legislation is...