Nov 22, 2011 (LBO) – Millennium Information Technologies, a unit of London Stock Exchange that was founded in Sri Lanka said its software has gone lived at Bangladesh’s Chittagong Stock Exchange. The system was implemented by Polaris India. Installation, trials and final implementation had taken nine months.
MillenniumIT chief Tony Weerasinghe said the systems will help the stock exchange speed up order process and increase revenue streams.
The new platform allows fast automated trading, risk management and allows real time and historical surveillance.
A trading platform and surveillance system is now in place, a statement said.
“The trading platform has been tested for 1 million orders with 2500 orders per secp with a latency of less than 1 millsecond,” Syed Sajid Husain, chief executive of Chittagong Stock Exchange said in a statement.
“The enhanced surveillance capabilities will help CSE to establish a strong compliance and monitoring system within the market.
He said the exchange was looking to introduce derivatives in the near future.