Apr.19 (LBO) – Sri Lankan based software firm specializing in securities trading platforms says regulatory changes in the United States and Europe, is expanding the markets for their products. MillenniumIT which started with equities trading software, now offers fixed income securities trading with latest versions catering to commodity trading and futures contracts.
In addition to several European, Asian and African exchanges its trading software is also running the Boston Stock Exchange in the United States.
New regulatory changes that demand enhanced transparency, which the MIT’s trading platforms are capable of, has given the company a new window of opportunity.
“In the US, these changes require exchanges to make sure that you provide the best bid and offer that the trades happen at the best prices,” says Anush Amerasinghe, Chief Operating Officer of MillenniumIT.
“That essentially has meant that the exchanges themselves have to change their systems to be able to provide this.”
Most large markets operate with brokerages matching trades in-house and prices being reported to the exchange. But rule changes require national best bid and offer prices to be available.