Global Spread

Nov 05, 2012 (LBO) – MillenniumIT, a Sri Lanka based unit of the London Stock Exchange group said its automated trading system (ATS) has replaced a manual open outcry system at the stock exchange in Botswana. MillenniumIT says its software is now live at over 30 customer sites and securities exchanges around the world.

Tony Weeresinghe, director of global development of the London Stock Exchange group and chief executive of MillenniumIT said the trading system will allow the Botswana stock exchange to be more efficient and give better service to its customers.

MillenniumIT software has been used in a central depository system at Botswana since 2008.

“This is the first time an ATS has been introduced in Botswana and represents an important milestone in the modernisation of Botswana’s capital markets,” Hiran Mendis, chief executive of Botswana Stock Exchange was quoted as saying in the statement.

“We are confident that this system will create more liquidity and attract more investors to our rapidly growing economy.”