Norway’s stock exchange, Oslo Børs, has upgraded! They’ve ditched the TradElect trading software and gone live with the Millennium Exchange trading software from MillenniumIT. The software in question is a highly scalable, low-latency package that’s been running the heart of the London Stock Exchange since 2009.
The London Stock Exchange Group is the central figure in this new win for the Sri Lankan software company. LSE didn’t just switch over to Millennium Exchange: they acquired the company outright in October 2009, pushing Millennium IT’s products. As Anders Brodin, Deputy CEO and Head of Market Places at Oslo Børs, said:
“Oslo Børs has decided to use the London Stock Exchange’s Millennium Exchange as it is one of the world’s fastest trading systems. Latency has become an ever more important factor for market participants, and the implementation of Millennium Exchange will strengthen the competitive position of Oslo Børs.”
Norway is just the latest. In fact, as a scan of ITPro will show you, they’ve got quite a track record. Egypt is already using the software. So is Botswana. And Johannesburg. And Italy. The fact that Millennium IT’s software is good enough to be used by not one, but several of the world’s top stock exchanges speaks volumes about the software industry in Sri Lanka these days.
More details on the Millennium Exchange software can be obtained here.