The London Stock Exchange picked a Colombo company for its trading platform, then bought the company. Meet MillenniumIT
The Millennium Exchange platform processes trades in 125 microseconds and powers exchanges on several continents.
- 125
- microseconds to process a trade
- $16M
- estimated annual saving for the LSE
- 2008
- chosen by the London Stock Exchange
This was the first story Tech Destination Sri Lanka ever published, and it is still one of the greatest in Sri Lankan tech history.
In 2008, the London Stock Exchange needed a faster trading platform. NASDAQ pitched. IBM was considered.
The exchange went with MillenniumIT, a company out of Colombo.
Good enough to buy the company
The software was so good that the London Stock Exchange bought the entire company. The Millennium Exchange platform processes trades in 125 microseconds and now powers stock exchanges across London, Johannesburg, Argentina, Kenya and more.
That switch saved the LSE an estimated $16 million per year.
Sri Lankan engineers did more than support global finance. They built the infrastructure running it.
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