Speedy Trades

March 28, 2007 (LBO) – The latest version of its securities trading system can execute more trades ten times faster than the previous one, software maker MillenniumIT said. The company is headquartered in Sri Lanka with offices in Boston, New Jersey, London, and Mumbai.

The new version of the Millennium Exchange released this month has a latency the time between placing an order and receiving acknowledgement of its execution – below one millisecond.

“Program trading and program traders have become huge players in the market,” Anush Amerasinghe, Chief Operating Officer of MillenniumIT, said.

“Orders come in very, very fast now. So it has become even more important to execute trades faster than before.”

In addition to the sub-millisecond response times, the new release of Millennium Exchange can handle more than 100,000 orders per second, the company said.

The platform operates on Linux and Solaris; the sub-millisecond latency was observed in tests run on Solaris based SunFire X4600 M2 servers with AMD processors.

The system can be scaled up using off-the-shelf hardware with each increase of 1,000 orders per second typically requiring only