TradElect, Year Two
June 23, 2008
The London Stock Exchange (LSE) last week celebrated the one-year anniversary of TradElect and made public its plans for the electronic trading platform's future. LSE says that since the introduction of TradElect, which was upgraded in November, coinciding with the effective date of the Markets in Financial Instruments Directive, latency has been reduced from 140 to 6 milliseconds and capacity increased tenfold.
"TradElect has delivered a step change in the trading capabilities to the London market and has set new benchmarks in terms of system capacity and performance," said LSE chief information officer David Lester, adding that the platform "continues to be scalable and agile in order to exploit new products and global markets."
In September, LSE aims to double the platform's capacity from 5,000 to 10,000 continuous messages per second, increasing that to 20,000 in October and continuing to scale up over the next year. End-to-end latency will be cut in half, to 3 milliseconds, by October. LSE also plans to add Italian equities to TradElect in September.
In early 2009, the exchange aims to introduce a FIX interface for the platform, as well as a Fast protocol streaming data channel for its Infolect high-capacity market data service. Along with TradElect, Infolect, which was released in 2005, was part of a four-year program to revamp the London exchange's technology.
