Canadian Exchange goes live with Millennium IT trading technology

Thursday, 2 April 2015 00:28 - - {{hitsCtrl.values.hits}}

Next generation MillenniumIT platform provides technical innovation, versatility and reliability Rapid development and delivery in less than 12 months underlines MillenniumIT reputation for agility and efficiency MillenniumIT, a provider of agile and resilient capital markets solutions and part of London Stock Exchange Group, yesterday announced that Aequitas NEO Exchange has successfully gone live in Canada using MillenniumIT’s integrated technology solution. The complete project from contract execution to exchange go-live took less than 12 months, further enhancing MillenniumIT’s reputation for innovation, versatility and reliability. MillenniumIT’s integrated technology solution includes a broad range of multi-asset products, on the foundation layer of its next generation integration platform (MAP). MillenniumIT’s trading platform (Millennium Exchange), Smart Order Routing (Millennium SOR), Millennium MarketData and Millennium Surveillance products were all selected for the Aequitas NEO solution. MillenniumIT CEO Mack Gill said: “The successful launch of this project is due to the mutual drive of both organisations to be at the cutting edge of innovation. The entire project was a tremendous effort from an agile and globally integrated team of Aequitas and MillenniumIT professionals. By leveraging the flexibility of the integrated Millennium platform, we’ve been able to support the launch of Aequitas NEO Exchange in record time, bringing true innovation to the Canadian marketplace.” Aequitas NEO Exchange Inc. CEO Jos Schmitt added: “The task we set back in March 2014 was enormous; we wanted to build an exchange of the future that challenges existing trading models and puts investors, companies raising capital and their dealers first. This could not have been possible without the exemplary partnership with MillenniumIT. The breadth of their innovative and highly adaptable products combined with the dedication of our two teams throughout the duration of the build, test and go-live have enabled us to bring our trailblazing exchange model to market very quickly. The highly flexible nature of MillenniumIT technology infrastructure means that we are confident in our ability to make ongoing enhancements to ensure the exchange technology develops and grows.” MillenniumIT has long been the flag carrier for the Sri Lankan IT industry internationally. This project is not only a testament to MillenniumIT’s prowess in the global technology market, but to the capabilities of the technology industry of Sri Lanka as a whole. MillenniumIT is the power behind many of the world’s financial markets. MillenniumIT pre- to post-trade, multi-asset, ultra-low latency, agile technology infrastructure supports the trade lifecycle for more than 40 financial institutions and financial services firms around the world. The MillenniumIT solution suite includes ultra-low latency trading platform Millennium Exchange, the Millennium SOR smart order router; Millennium MarketData, Millennium Surveillance, and the integrated clearing, settlement and depository solution Millennium PostTrade. Underpinning all of these solutions and providing the core integration layer is the Millennium Advanced Platform (MAP). Clients include Borsa Italiana, HKEx, Johannesburg Stock Exchange, London Metal Exchange, London Stock Exchange Group, Singapore Exchange, Toronto Stock Exchange, Tullett Prebon and Turquoise. Founded in 1996 and head-quartered in Sri Lanka, MillenniumIT is a fully-owned subsidiary of the London Stock Exchange Group.