The Millennium Exchange is an electronic trading platform developed and used by the London Stock Exchange Group. Read on to learn about the Millenium Exchange, including its acquisition, location, and services.
Overview
Here is a brief overview of the Millennium Exchange:
| Year of Acquisition: | 2009 |
| Developers: | London Stock Exchange |
| Operating System: | Linux |
| Platform: | Commodity hardware |
| Type of Software: | Electronic Trading Platform |
Short History
Millennium Exchange was recognized to have the world's quickest trading speed at the Turquoise dark pool trading venue in 2010. It was supposed to go live on November 1st but failed after a two-hour outage at the Turquoise dark pool site on November 2. LSE officials felt that this problem was suspiciously caused by human error.
Acquisition
After they were dissatisfied with the cost and speed of their trading platform, TradElect, LSEG acquired a Linux-based system MilleniumIT for £18 million in September 2009. A Sri Lankan-based company. LSEG was drawn to MilleniumIT's fast and straightforward implementation of business logic changes, which results in lower support costs than other platforms.
Following the acquisition, MilleniumIT became LSEG’s technology provider. In 2012, the Millenium Exchange completely replaced LSE’s previous trading platform, TradElect.
Locations of Users
As well as being sold to the London Stock Exchange, the system has also been bought by several exchanges around the world:
- BYMA – Argentina
- Borsa Italiana
- Oslo Stock Exchange
- Johannesburg Stock Exchange
- Bolsa de Valores de Lima
The Millenium exchange matching engine was chosen by the Hong Kong-based digital asset market AAX in 2019.
Services
The Millennium Exchange was built to be agile and dispatch quickly. It's also based on a rule-based, distributed, and fault-tolerant architecture that allows it to be highly dependable, scalable, and adaptable to your unique requirements. In addition, its quick and straightforward application of business logic changes saves you money on support.
Today, the Millenium Exchange is used all around the world. It offers a fast and reliable trading experience for both investors and market makers alike. The Millenium Exchange is a customizable trading platform that can evolve and develop at the same rate as your company.
If you’re looking for an electronic trading platform that can offer you a wide range of services and a fast, reliable trading experience, the Millenium exchange is a great option to consider. Thanks to its simple business rules, the Millenium Exchange can save you both time and money in the long run.
Structure
Millenium Exchange is now under the control of the London Stock Exchange, which the London Stock Exchange Group PLC owns.
Below is a list of the board of directors of LSEG, including their names and position.
| Name | Position |
|---|---|
| Don Robert | Chair of the Company and the Nomination Committee |
| David Schwimmer | Group Chief Executive Officer |
| Anna Manz | Chief Financial Officer |
| Dominic Blakemore | Non-Executive Director and Chair of Audit Committee |
| Martin Brand | Non-Executive Director |
| Erin Brown | Non-Executive Director |
| Professor Kathleen Rose | Non-Executive Director and Chair of the Risk Committee |
| Tsega Gebreyes | Non-Executive Director |
| Cressida Hogg CBE | Senior Independent Director and Chair of the Remuneration Committee |
| Dr. Val Rahmani | Non-Executive Director |
| Douglas M. Steenland | Non-Executive Director |
| Ashok Vaswani | Non-Executive Director |
Customer Support
There is no direct contact with Millennium Exchange as it is part of LSEG.
However, you can contact the customer support of LSEG by submitting a ticket with your questions and inquiries on their website: https://www.lseg.com/contact-lseg.
Or call on +44 (0) 207 797 1000.
