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Sun, 27 July 2014 02:12:35
Sri Lanka's MilleniumIT software live in Norway
22 Nov, 2012 13:15:23
Nov 22, 2012 (LBO) - Norway's stock exchange Oslo Børs, has gone live with trading software from MillenniumIT, a Sri Lanka-based unit of UK's London Stock Exchange group, the company said.
"Oslo Børs members can now benefit from the high performance and rich functionality of Millennium Exchange, alongside other European users," Tony Weeresinghe, chief executive of MillenniumIT and director of global development at LSE group said in a statement.

"This is an important milestone for London Stock Exchange Group since the Oslo Børs markets were the last still using the legacy TradElect system, which will now be decommissioned."

Oslo Børs, said it was in the process of acquiring Nordic MTF Burgundy, a regional exchange and was planning to use MillenniumIT technology in it next year.

"It is important for Oslo Børs to offer high quality state-of-the-art technology to ensure that our marketplaces remain competitive and to help our customers to offer even better products and services..," Bente A. Landsnes, president and chief executive of Oslo Børs said.

MillenniumIT systems are live in over 30 locations around the World.

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READER COMMENT(S)
9. fb Nov 27
Well if it is Umnoputra it is even worse. That excludes even the poor Malaysians who were officially or unofficially included in the Bhumiputera policies including the Orang Asli and the Dayaks and the people of Portuguese descent.

So what's the definition? One parent has to be UMNO or two?

You realize that UMNO is the core Malay-Muslim nexus vs the much broader definition which effectively only excluded the Chinese and the Tamils?

Positive discrimination - financial/education whatever - for the poor is admittedly less harmful than negative discrimination. The problem is when you provide it based on your parentage, racial and religious characteristics only.

8. Wadda Podda Nov 26
@fb.I hope LBO gives me a chance to answer.
It shows how much you know about Malaysia.
It's not 'Bumiputra' any more. It's now called 'Umnoputra'(Perhaps you can google it)
I guess you don't get it. Well I know of many Bumiputra's(including the Malay's)who don't get any handouts and are not just rent seekers any more.
You don't belong to the scene, so you are not that well informed.
Understandably, I can't go into too much detail. As you said Sri Lanka and Malaysia cooperates well.
7. fb Nov 24
You may think you are not talking about nationalism, but when a person disparages the efforts or labour of a 'foreigner' who is also a human being simply on the basis of their nationality and geographical location that is what he/she is doing.

People who were born in Sri Lanka do not recognize it because it has been driven into the our minds and think de-humanization of foreigners, Tamils, Muslims etc is normal.

Malaysia is nationalist, hence the Bhumiputhra laws.

Malaysia's pogrom against the Chinese was national socialist. So it is hardly surprising why some Sri Lankan ruling elite like Malaysia. In 1983 Malaysia was touted as an example to follow.

Natural resources have very little to do with anything. Iran and Venezuela vs Taiwan, Singapore or most European nations. Nigeria regressed after its oil discovery.

Most African nations are very rich in all kinds of natural resources.

Malaysia has built a fair amount of human and other capital to deal with running out of oil. Their non-oil economy is big. Indonesia also has oil.

Papua New Guinea is just as rich in natural resources as Australia or New Zealand.

In fact the Malaysian economic revival started with the end of the 1970s inflation bubble, which led to falling tin and other commodity prices as the dollar strengthened due to tight US and British monetary policy, hitting Malaysia's revenues hard.

The government then privatized (i.e reduced the grip of the state, cut deficits) and started to stabilize the economy.

They are somewhat in line with Dubai. Dubai no longer has oil. Dubai being feudal is naturally overall less nationalist, and is free from the vicious nationalism that gripped countries after elections based on majority voting. Foreign labour is freely welcomed. Malaysia's nationalism also exploded after independence with the weakening of the feudal powers.

I will ignore the customary abusive (and amusing) ad hominem attack on my person and health other than to point out that ad hominem attacks are a logical fallacy and are levelled when the logical merit or the facts of an opponent's case cannot be disputed.

6. Wadda Podda Nov 24
@fb.You fail to get the point. I am not talking about nationalism. You seem to have a paranoia about this subject. I know a good shrink if you need one

What's I'm saying is that are many things they call Malaysian, which in fact cannot be achieved without the help of the foreigners. And this is also only possible because Petronas is there to bail every failed project. And that's why I keep saying when oil and gas is over it's a different story.

I noticed that Sri Lankans like to take Malaysia as an example. Believe me if the resources of oil and gas were not there today we would have another Malaysia.

5. fb Nov 24
There is absolutely no problem in 'foreigners' working in cyberjaya.
To say 'foreigners' work in Malaysia is just nationalism. Nationalism has no logic.

Many 'foreigners' work in Silicon Valley. Young Russians and Eastern Europeans and older Indians are working, innovating and adding to the knowledge of all human kind.

Some 'foreigners' in the US are naturalized. About 13-pct of 'Americans' the US are not born in the country.

30 percent of Silicon Valley engineers are estimated to be foreign born. While 1/8th of Americans are foreign born fully one quarter of 'American' Nobel prize winners are foreign born.

Nationalism de-humanizes. Nationalism hurts oneself as well as the victim. If America tightens immigration laws it will hurt America more than the yet-to-migrate go-getters.

Malaysia's state-intervened national car was a nationalist failure.

The Thai car export business is a lesson to Malaysian nationalism.

Nationalism de-humanizes. Liberty and freedom allow mankind to achieve yet unknown pillars of success.

4. Wadda Podda Nov 24
@Ane Apoi. Though Malaysia 'created' as you say Cyberjaya, most of companies and individuals doing business and working there are foreigners. Even some Sri Lankans.

Just like their Proton, it's a 'Malaysian car', but KDU from Mitsubishi. Good, some parts are of local contents and this will be the parts that always breaks down. When Oil and Gas is over, it's another story.

3. fb Nov 23
Well, the beauty of the IT sector is that it has progressed without state intervention.

In fact it progressed despite state controls, imposed with police power, where the citizens had to get foreign degrees or diplomas because of a state monopoly on education. That may well have kept education at the cutting edge.

And telecom charges were high again due to a legacy state monopoly.

State workers (i.e policymakers if you will) essentially lack the imagination - not just here but all over the world - to envisage what a free citizen can do, provided he is freed from their control and intervention/interference. That is why they try to 'pick winners'.

If the state got out of the way, people will do things in collaboration or in competition with people outside our borders as well as within.

What will they do? Your guess is as good as mine. The imagination and the capacity of an unfettered human mind is limitless.

There is one cyberjaya. The cyber jaya is a 'policymaker' attempt to copy what has happened in a free society without state intervention for example the Silicon Valley.

Malaysia in fact has many, many Seethawakas. They have provided gainful livelihoods not just to Malaysians but also to Indonesians many of whom are 'illegally' working in them having migrated.
Some Sri Lankans are also working there.

Before visa and immigration controls came in the last century, with the growth of the state with police power, such migrations would not even have been 'illegal'.

If the state was involved MIT may have been killed before it started. The CSE as a fully private owned entity took a risk and bought MIT software because many of the brokers in the committee were highly excited about the ease of the system. If the CSE was state owned it would have gone to some other one with a track record (best case) or one who could oil palms (worst case).

2. Ane Apoi Nov 23
If only the successive Governments had supported the IT sector by encouraging youth to this sector with a sound education system. SL wouldve done way better than turning the youth into housemaids and tailors....while Malaysia created ciberjaya we created Seethawaka..
1. Ex MIT Nov 23
Well done Millennium IT. Good to see a Sri Lankan company (Although now owned by LSE) is competing globally in high tech industry.

But unfortunate thing is that government has not realized the trur potential of the IT talent of the Sri Lankan youth. They seem to be banking on promoting sports tourism to generate revenue. I think its high time the government provide some incentives to to this industry who are taking Sri Lanka to the global arena.