High Velocity

July 20, 2009 (LBO) – Sri Lanka’s Millennium Information Technologies (MillenniumIT) said it has launched a super-fast trading platform based on Intel processors to help securities exchanges cope with increasing trading volumes. The statement by MillenniumIT, which provides software to the global capital markets industry, claimed the new product is the world’s fastest trading platform.

“Today, exchanges must cope with the rapid rise in volumes of high-frequency trading,” the statement said.

“In the US, trading volumes attributable to high-frequency trading have grown to 73 percent from 40 percent a year ago.”

MillenniumIT said its products have been sold to exchanges, depositories, brokerages and regulatory bodies in the United States, Europe, Africa and the Asia-Pacific region.

They cater to trading equities, derivatives, debt, commodities, forex, structured products and exchange-traded funds. “The ability to process a million orders a second using volume produced Intel 2 socket Nehalem servers in a full fault tolerant configuration is now a commercial reality at a very affordable price point, MillenniumIT said in a statement.

“Low latency trading systems with latencies in the microseconds will soon