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Thu, 24 April 2014 11:50:45
Sri Lanka based LSE to provide platform for Hong Kong
15 Nov, 2012 11:59:55
Nov 15, 2012 (LBO) - MillenniumIT, a Sri Lanka based unit of the London Stock Exchange has signed a deal to provide Hong Kong Exchanges and Clearing Limited (HKEx) with an order routing platform.
HKEx is the holding company of Hong Kong's stock and futures exchanges and its clearing unit. Millennium IT software has been selected for HKEx's 'Orion Central Gateway' project, a statement said.

The project sets up a central gateway to replace the existing distributed gateway infrastructure in the cash market of the exchange.

The implementation of the MillenniumIT platform will result in reduced costs to market participants, reduced latency and result in the market migration to the protocols and methods that will be adopted within the exchange’s future trading system," the statement said.

"The HKEx Orion Central Gateway is a further step in our aim to provide a more efficient trading infrastructure for our trading community, and to boost competitiveness for the overall Hong Kong market," Julian Ragless, senior vice president of platform development and strategy at HKEx said in the statement.

"In evaluating service providers, we applied a stringent set of requirements in terms of performance and functionality.

"We selected the Millennium SOR based on its capability to handle a high level of order throughput with microsecond levels of latency and high availability.”

Tony Weeresinghe, chief executive of MillenniumIT and director of global development at London Stock Exchange Group said the selection by HKEx showed that its platform were "capable of delivering fast, flexible and high availability solutions."

The system is expected to go-live in the third quarter of 2013, the firm said. MillenniumIT said its software is now live at over 30 customer sites around the world.

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