Trading Technology

Oct 20, 2009 (LBO) – Sri lanka’s MillenniumIT software firm said its acquisition by the London Stock Exchange Group would help boost global sales of its trading technology business. Tony Weeresinghe, chief executive of MillenniumIT, said the deal would help the company expand into other markets and invest for the future.

“We intend to leverage the (London Stock Exchane) Group’s strong global franchise to further develop our global exchange technology sales business,” he told a news conference in Colombo to announce the wrapping up of the deal

The London Stock Exchange said its acquisition of MillenniumIT will provide the group with a new, high performance trading platform and an “agile, efficient, in-house IT development capability”

It would also give MillenniumIT the backing it needs to enable it to develop further its global exchange technology business, according to a statement issued at the news conference.

Xavier Rolet, chief executive of London Stock Exchange Group is visiting MillenniumIT’s corporate headquarters and software development campus in Colombo.

As part of his trip, Xavier will meet with local dignitaries and senior representatives of le