The London Stock Exchange has shifted its entire trading platform to a Linux based system in order to achieve faster, more secure trading.
The group said that the Millennium Exchange will present investors with a trading platform that offers improved functionality, enhanced technical performance and low-latency levels.
According to the LSE the trading platform was built by MillenniumIT and will come in place of TradeElect system which has previously been used up til now. The trading platform was to be replaced last year but the migration didn't happen owing to technical difficulties, apparently arising from human error.
Antoine Shagoury, chief information officer at the LSE Group, said in a statement “We are confident that this new platform will provide our customers with exceptional levels of performance, functionality, and capacity.”
Stock exchange systems have been under the microscope over the past year with some high profile incidents. Both the London Stock Exchange and an unnamed US exchange were victims of cyber attacks, whilst the EU carbon trading exchange had carbon credits worth €7 million stolen and was temporarily suspended.
The Millennium Exchange platform has also been deployed by the Johannesburg Stock Exchange in South Africa.