London Stock Exchange set to launch new trading system

System is the fastest in the world, according to the LSE

The LSE will test its new trading platform at the weekend

The London Stock Exchange will test its new trading platform this weekend, in preparation for it to go live next month.

The organisation acquired software service provider MillenniumIT last year, obtaining the trading platform at the same time.

"We wanted to bring our platform development in-house," said a spokesperson for the Stock Exchange.

"Previously we outsourced it to a third party, and the platform did not fully meet our needs."

The previous platform, Tradelect, was .Net-based and involved Accenture in its development. The Stock Exchange migrated its Turquoise trading platform to MillenniumIT on Monday, and is already seeing improvements.

"We were seeing execution times in microseconds, where previously it was miliseconds," added the spokesperson.