MilleniumIT, a leading technology solutions provider and a part of London Stock Exchange Group (LSEG), yesterday announced the Group’s plan for further investment in MillenniumIT. LSEG will invest in the construction of a new state-of-the-art software complex to accommodate the company’s growing specialised international software and services business.
Since the acquisition of MillenniumIT in 2009, LSEG has invested heavily in growth of the company – expanding the workforce to over 600 and investing in property and infrastructure on its Malabe campus. The new 40,000 sq ft complex is expected to house approximately 300 people and will be built within MillenniumIT’s extensive 16.5 acre Malabe Campus to accommodate the demands of MillenniumIT’s increasing operation. LSEG Chairman Chris Gibson- Smith, CEO Xavier Rolet and Mi l l enniumIT’s CEO Tony Weeresinghe were amongst those present at the foundation stone laying ceremony held yesterday at the construction site. Since MillenniumIT joined LSEG, there has been no looking back for either party. LSE’s equity cash markets went live last year with MillenniumIT’s high performance trading software, at an average latency of less than 120 microseconds, making the LSE one the fastest trading venues in the world. MillenniumIT’s trading platform, Millennium Exchange, is highly scalable and designed for multi-asset class trading, offering London Stock Exchange’s clients superior technical performance and enhanced functionality. MillenniumIT has also directly benefited from being part of an increasingly diverse international exchange group, reporting strong growth in financial performance and benefitting from greater international visibility. This is further evidenced by the fact that in 2011 MillenniumIT accounted for over 20% of Sri Lanka’s software exports revenue. Over the past two years MillenniumIT’s software business has also significantly increased its global client base, having signed over 15 new clients, including the Chittagong Stock Exchange, the Delhi Stock Exchange and the Securities and Exchanges Commission (SEC) of Sri Lanka. MillenniumIT’s local SI business has also seen revenue growth of over 30% since 2009. The SI business complements the software projects by providing the infrastructure build for clients. London Stock Exchange Group CEO Xavier Rolet said: “I am delighted to be in Sri Lanka and to be laying the foundation stone for MillenniumIT’s new campus building. Since joining London Stock Exchange Group in 2009, MillenniumIT has revolutionised our own Group technology, providing us with one of the fastest and most advanced trading platforms in the world. Millennium has also been instrumental in helping drive the Group’s international expansion through sales to exchanges and business around the world.” Mi l l enniumIT CEO Tony Weeresinghe s a i d : “Since MillenniumIT joined the London Stock Exchange Group, we have directly benefited from the international strength of LSEG’s brand. This has helped the company to innovate, expand, create jobs and importantly to contribute to Sri Lankan economic growth. Today is another very important step in MillenniumIT’s exciting history. Our new campus building will allow MillenniumIT to continue to expand our operations in Sri Lanka and also our ability to successfully deliver for our customers around the world.” British High Commissioner to Sri Lanka John Rankin said: “I am delighted to see the continuing investment the London Stock Exchange Group is making in Sri Lanka. The LSEG is at the heart of the world’s financial community. Sri Lanka’s ICT industry is, in turn, recognised for its innovative excellence and Millennium IT is synonymous with this. This latest venture is a further boost to the strong commercial ties between our two countries.” Millennium IT is a premier technology solutions provider serving the global capital markets industry. The company’s products currently power exchanges, depositories, brokerages and regulatory bodies in the United States, Europe, Africa and the Asia-Pacific region. Its suite of capital markets products includes trading platforms, smart order routers, surveillance, clearing and CSD products which support the trading of multiple asset classes including equities, derivatives, debt, commodities, forex, structured products and exchange-traded funds. Millennium IT is also an industry- leading enterprise and telecom solutions provider, designing and building open, standards-based IT infrastructure for large and medium enterprises in Sri Lanka and beyond. London Stock Exchange Group sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe’s leading fixed income market; and Turquoise, offering UK and Russian derivatives trading, pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets. The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world access and an extensive range of real-time and reference data products and market-leading post-trade services. The Group is also home to a world leading index provider FTSE, which creates and manages of over 200,000 equity, bond and alternative asset class indices. Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1,850 people.