Aequitas selects MillenniumIT technology to power Canada’s newest exchange
Thursday, 5 June 2014 00:54
Suite of MillenniumIT products selected to power new exchange
Further strengthens MillenniumIT’s position in Canada
MillenniumIT provides trading and clearing technology to over 40 capital markets organisations around the world
MillenniumIT, London Stock Exchange Group’s technology solutions provider, yesterday announced it has been selected by Canadian-based Aequitas Innovations Inc., (Aequitas) to provide a suite of capital markets technology products. Millennium Exchange, Millennium SOR and Millennium MarketData are among the products chosen by Aequitas for its new marketplace in Canada.
MillenniumIT has developed an integrated solution, tailored to the specific needs of the Aequitas exchange platform. Aequitas was founded by a diversified group of Canadian corporations, representing professional money managers, pension fund managers, institutional and retail brokers and Canadian issuers. It has been designed to apply innovation, technology and competition to improve fairness and efficiency in the Canadian capital market with particular focus on traditional investors and issuers.
MillenniumIT CEO Mack Gill said: “We are excited to have been selected by Aequitas to provide them with an end-to-end technology solution. This is a significant win for us – our suite of capital markets technology has been chosen to launch this new exchange, which is set to bring increased competition to the Canadian capital market. It is a strong validation of our products’ reputation for innovation, versatility and reliability.”
Aequitas CEO Jos Schmitt said: “At Aequitas, we are building an exchange of the future using a bold blueprint that puts issuers and long-term investors first. As we partner with MillenniumIT we will combine their leading technology and presence in Canada with our innovative and patented solutions. This tailored technology design will allow us to successfully deliver on our mandate to re-establish more fairness in the markets, strengthen the capital formation process and introduce innovation and meaningful competition in the marketplace landscape.”
Aequitas Chief Operating Officer Karl Otty said: “Aequitas conducted a robust RFP process where we measured the ability of technology providers to deliver a series of technology and operational requirements. MillenniumIT rose to the top as the clear leader in its field. With solid expertise, MillenniumIT has quickly proven its technology is adaptable to meet our needs and enable Aequitas to go to market with real innovation.”
MillenniumIT technology now powers over 40 exchanges, depositories, brokerages and regulatory bodies across the Americas, Europe, Asia and Africa.
MillenniumIT is a leading innovative trading technology business. Powering over 40 financial organisations and exchanges around the world, MillenniumIT’s clients include London Stock Exchange, Borsa Italiana, Turquoise, London Metal Exchange, Tullett Prebon, Johannesburg Stock Exchange, Singapore Exchange and HKEx.
MillenniumIT’s suite of capital market products include; Millennium Exchange, an ultra-low latency, highly scalable trading platform; Millennium SOR, a smart order router; Millennium MarketData, an ultra-fast and efficient data for financial markets; Millennium Surveillance, a market surveillance and regulatory compliance system; and Millennium PostTrade, providing integrated clearing, settlement and depository functions.
Founded in 1996 and headquartered in Colombo, Sri Lanka, MillenniumIT is fully owned by the international diversified exchange business, London Stock Exchange Group.