ISSN: 1391 - 0531
Sunday, April 01, 2007
Vol. 41 - No 44
Financial Times  

MillenniumIT unveils world's fastest trading platform

Millennium Information Technologies (MillenniumIT), the top capital markets technology provider, said this week that the latest release of Millennium Exchange, its multiproduct trading platform, had been measured in performance tests to have latency less than 1 millisecond.

In addition to the sub-millisecond response times, the new release of Millennium Exchange can handle sustained volumes of over 100,000 orders per second, with core latency remaining below 1 millisecond. Moreover, the platform scales evenly, with each increase of 1,000 orders per second typically requiring only $50,000 of hardware, according to a company media statement.

“Millennium Exchange offers exchanges and alternative execution venues unprecedented levels of performance, scalability and flexibility – it benefits from over a decade of continuous technological innovation, coupled with our experience of powering some of the largest marketplaces in the world,” said Tony Weeresinghe, Chief Executive Officer of MillenniumIT.

Millennium Exchange makes use of a host of proprietary innovations including MillenniumIT’s patented technology, which provides the capability to add completely new products and trading methodologies to the platform without any change to code. Current customers of MillenniumIT include the American Stock Exchange and ICAP, the world’s largest inter-dealer broker.

“The upheaval we are seeing today in the exchange industry, both in terms of the surge in transaction speeds and volumes as well as the advent of regulations such as Regulation NMS and MiFID, has shown how crucial it is to have the right technology. Millennium Exchange is the most technologically advanced trading platform available; it’s going to be a very exciting time for us,” added Weeresinghe.

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Copyright 2007 Wijeya Newspapers Ltd.Colombo. Sri Lanka.