Open Source technology to unlock your business potential
| 06/10/2009 London Stock Exchange moves to Linux |
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Written by Calum Ross
Friday, 13 November 2009 13:49
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London Stock Exchange (LSE) has confirmed it is moving from the Microsoft based Microsoft .Net-based TradElect to the GNU/Linux-based MillenniumIT system, after failures with the TradElect which put the market on standstill for nearly a whole day! Another reason for the drastic move is that in doing so the LSE will be making annual savings of at least £10 million ($14.7 million) from 2011/12. This is due to the LSE gaining 100 per cent of the shareholding, because they are buying the company that produces the software. ‘The new technology is a lot lighter, nimbler and easier to install,’ says David Lester, director of information and technology at LSE. Purchasing MillenniumIT looks like a bargain at £30 million which is cheaper than TradElect at £65 million.
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