Tech Leader

Jan 24, 2012 (LBO) – MillenniumIT, a securities trading technology provider said it is expanding a software development complex in Sri Lanka with business volumes growing after it became part of the London Stock Exchange group. MillenniumIT was bought by the London Stock Exchange in 2009 now has a staff of 600 in Sri Lanka.

On Tuesday, LSEG Chairman, Chris Gibson-Smith and senior officials had laid the foundation stone for 40,000 square feet complex that can house 300 people at its software development campus in Malabe.

London Stock Exchange has used MillenniumIT’s trading software from last year making it one of the fastest trading infrastructures in the world.

“Since joining London Stock Exchange Group in 2009, MillenniumIT has revolutionised our own Group technology, providing us with one of the fastest and most advanced trading platforms in the world,” LSE chief executive Xavier Rolet said in a statement.

“Millennium has also been instrumental in helping drive the Group’s international expansion through sales to exchanges and business around the world.”

The firm said in 2011, it accounted for 20 percent of Sri Lanka’s software exports.

“Since MillenniumIT joined the London Stock Exchange