22nd January 2014, Colombo, Sri Lanka: MillenniumIT, a leading technology solutions provider, has been named the Best VLSI / Embedded Design Company from the Indian subcontinent at the Mentor Graphics and Silicon India’s Leadership Awards.
MillenniumIT’s world leading systems use Field Programmable Gate Array (FPGA) as part of their technology stack. This hybrid approach gives MillenniumIT’s customers the speed and flexibility needed to meet the ultra-low latency demands of global financial markets. The technology company, part of London Stock Exchange Group, is an early adopter of such hybrid systems for capital markets clients.
MillenniumIT was recognised in the new category of Very Large Scale Integration (VLSI) / Embedded Designs. The awards, in their fourth year, honour the best companies in the VLSI / Embedded software industry. The winners were chosen by a panel of judges consisting of eminent business leaders.
Ajit Samaranayake, Chief Scientist at MillenniumIT, said: “We
strive to deliver world-beating performance and believe in using the
latest technology to give our clients every advantage. We are delighted
that this approach has been recognised at these prestigious industry
awards. It is testament to the innovation that is the hallmark of
9th December 2013, Colombo. MillenniumIT emerged champions at the recently concluded Mercantile Badminton Tournament. Participating for the second time, The MillenniumIT badminton team won the Men’s Division G2 Championship trophy and the Women’s Division D Championship Trophy.
Led by Dharshin; Dhammika, Nadith and Nuwan make up the men’s A-team while Marina and Hashini the women’s A-team.
The men’s team emerged unbeaten champions in the Division G2 and the Women’s team, also unbeaten, in the Division D. With Hashini and Nadith selected as the best players in their respective divisions.
MillenniumIT won against Assetline Group, Dialog Axiata, HNB Sport, CIC Holdings and John Keels.
Meanwhile, the MillenniumIT men's B team achieved 3rd place in the H1 Division. "We are so proud of our team and how much we’ve achieved since entering the tournament just last year. Our team put in a tremendous effort and we are thrilled as to how well it’s paid off" said Dhammika Gunaratne.
"We would like to thank the management of MillenniumIT for giving us this opportunity and for supporting us throughout the tournament."
From left - -Lahiru Chandima, Dhammika Gunaratne, Hashini Kumarage, Marina Samaratunga, Dharshin De Silva, Nuwan Abaysiriwardana, Nadith Pathirage, Dulindra Wijethilake
5th December 2013, Colombo, Sri Lanka: MillenniumIT, a leading technology solutions provider, announced today that together with their partner, Sakonet USA, a world leading CRM solutions provider, they have successfully completed the implementation of Oracle's Siebal Campaign Management module at Dialog Axiata, Sri Lanka’s leading mobile telecom market.
This implementation, the first of its type in the country, replaces a manual campaign management process which has been in practice for over a decade at Dialog. The Campaign Management module enables Dialog to provide end-to-end marketing and customer engagement practices to its customer base bordering 8 million.
Samantha Ratiyala, Vice President - Information Infrastructure & Applications Business, MillenniumIT said:
'We are happy that Oracle's Siebel Campaign Management is now live at Dialog, representing another first in the island implementation by MillenniumIT. Dialog will now be able to increase efficiency of its multi-channel campaigns whilst at the same time increasing the effectiveness of its customer engagement. This will result in increased customer satisfaction and higher revenues which will help Dialog maintain its position as the market leader.'
Rodzina Laxana, Senior General Manager, Insights and Customer Value Management at Dialog Axiata said:
"Dialog is proud to announce the successful implementation of its Campaign Management System with its technology partner MillenniumIT. We view this implementation as a very important step for the company to stay ahead of its competitors and meet growing consumer needs. The platform will enable Dialog to increase its operational efficiency as well as offer its subscriber base of 8 million a personalized product offering that is in line with their mobile needs in a timely manner.
This implementation is the second CRM module implemented for the mobile service provider following the Complaints Management module going live at Dialog last year. The main benefit of the Complaint Management module is an increase in call center efficiency whilst reducing the average 'handle time' of calls, improving customer experience and satisfaction.
Millennium PostTradeTM chosen by SGX to provide complete post trade processing in real-time
First full roll-out of MillenniumIT multi-asset clearing, settlement, risk and CDS technology platform
MillenniumIT now provides trading and clearing platforms technology to over 30 organisations around the world
MillenniumIT, London Stock Exchange's proprietary technology business, today announces that it has been selected by Singapore Exchange (SGX) to power the bourse's post trade operations.
SGX will install Millennium PostTradeTM, MillenniumIT's scalable and flexible multi-asset clearing, settlement, risk and central depository solution for Singapore's securities market.
Millennium PostTradeTM is built on MillenniumIT's advanced technology platform, providing highly flexible, ultra-low latency operations. This technology is based on MillenniumIT's own patented 'BID' technology, which gives customers heightened flexibility allowing for the rapid rollout of regulatory and market-driven changes. The implementation of Millennium PostTradeTM will enable SGX to offer its clients advanced, reliable, flexible real-time post trade services on a single platform, across asset class.
Mack Gill, CEO of MillenniumIT, said: “We are delighted to have been selected by SGX to power its global post trade operations for multi-currency, multi-asset class solutions for SGX members. Not only is SGX South East Asia's largest bourse but it is also the region's most international exchange. This represents a significant partnership for us and the first contract win for the full Millennium PostTradeTM solution.”
Xavier Rolet, CEO of LSEG: added “MillenniumIT has shown again that its highly scalable, low latency platform appeals to capital markets providers globally. SGX is one of the world's leading exchanges and joins over 30 organisations around the world which are now being powered by MillenniumIT's technology.”
Magnus Bocker, CEO of Singapore Exchange said: “SGX is once again bringing next-generation services and technology to its securities market as we continue to strengthen our Asian Gateway proposition. Our customers can expect improved access, efficiency and flexibility in the types of products and services we will offer once the system is in place. We look to London Stock Exchange Group for its support as we introduce this new technology to our market, the first implementation of such scale for Millennium PostTradeTM.”
October 28th, 2013 - Colombo, Sri Lanka: MillenniumIT, a leading technology solutions provider, today officially opened its latest innovation hub – the Turing building. This new addition is now the centrepiece of the 17 acre campus – an area which also features, among other things, a crèche, a staff hotel and a cricket pitch.
A passion for innovation and a commitment to its people are two of the key factors behind MillenniumIT's growth. The company's new 'innovation hub' has been designed to build on ten years of experience and provide the best possible conditions for the talented teams it houses.
"The Turing Building has been custom built for innovation "says Ajit Samaranayake, MillenniumIT's Chief Scientist. “I love the uninterrupted, column-free workspace. It's just great to work in.”
“We wanted people to have natural sunlight,” explains Ajit. “But in the tropics that isn't as easy as it sounds, because the sunlight can be so bright you simply can't see the monitor screens. We needed to be able to control the light – and the heat too.” The answer was the inclusion of a 'light shelf' to intercept the light and modulate the glare. Now everyone has the best of both worlds: the pleasure of natural light and the convenience of easy-to-read screens.
Another of the building's plus factors is the way it harmonises with MillenniumIT's way of working. “We work collaboratively,” says Ajit, “talking to each other all the time.” So alongside the wide open sweep of the work area there's an array of different room types, each with its own purpose.
These include meeting rooms that can hold up to 20 people; 'concept rooms' where five or six people can spend a longer period working together; and 'thinking rooms' in which just one or two people can concentrate free from any disturbance. MillenniumIT prides itself on providing staff with the right space to let the creativity that drives the business flourish.Judging by the enthusiasm of those working in it, it's already paying dividends. As Ajit says, “If you want to get the best out of people, start by giving them the right environment.”
Lighting the traditional oil lamp From Left: Xavier Rolet – CEO of London Stock Exchange Group, Mack Gill – CEO of MillenniumIT & Ajit Samaranayake - Chief Scientist at MillenniumIT.
Xavier Rolet – CEO of London Stock Exchange Group at the official opening of the Turing building.
Unless otherwise stated, the following commentary refers to the five months ended 31 August 2013 and, where appropriate, to the corresponding period last year.
Diversified Group performing well
Total equity capital raised on the Group’s markets for the period was £9.3 billion (2013: £4.0 billion), with 63 new issues (2013: 53); issuance has been good so far this year and the pipeline is encouraging
In fixed income trading, MTS money markets (repo) value traded increased 14 per cent; and, cash markets value traded increased 37 per cent; MOT retail bond trading volumes were strong, showing a 15 per cent increase
MTS announced the launch of MTS Swaps, expected in Q4 2013, a new platform giving buy-side institutions the ability to electronically trade interest rate swaps
LCH.Clearnet has seen strong growth in all OTC areas with IRS notional cleared of $205 trillion, up 29 per cent; CDS notional of $94 billion, a nearly five-fold increase; and, Forex notional of $379 billion, up by over 140 per cent. Fixed Income clearing of €30.8 trillion was up 3 per cent, Commodities were also up 3 per cent and equities broadly similar to the same period last year
Global Client clearing of Swaps performing well with a current average of over $1 trillion notional value cleared per week; in total, over $50 trillion has been cleared since launch
FTSE performing well; demand for other information products, including UnaVista and SEDOL, remained good. Professional users of both UK and Italian market real time information decreased from June 2013
Average daily UK equity value traded up 5 per cent, Italian average daily volumes down 7 per cent; derivatives trading volumes down 31 per cent over the same period last year
Italian clearing volumes declined in line with trading levels; initial margin held increased 17 per cent, averaging €12.0 billion; with 95 per cent of cash margin invested on a fully collateralised basis by start of September
MillenniumIT has been selected to be the business development and technology partner by the Argentinian Central Securities Depository
The Group has entered into an agreement to acquire Turquoise Derivatives; the platform will continue to operate as at present but as a Regulated Market of a Recognised Investment Exchange
Borsa Italiana acquired a 70 per cent stake in EuroTLX, an Italian MTF operating in the retail fixed income market; revenue in last financial year to December 2012 of €14.5 million
In July 2013, the Group signed a new £700m unsecured, committed revolving facility package with its banks, on favourable terms, to replace its existing credit lines. The new facility package comprises a mix of 5 and 3 year commitments which extend the Group’s debt maturity profile and underpin its financial flexibility
Commenting on performance for the period, Xavier Rolet, Group Chief Executive, said: “The Group continues to make good progress, with good operational performance in particular at FTSE, in primary markets, fixed income and in OTC clearing at LCH.Clearnet. We are focused on the ongoing development of our diversified business, including the opportunities at LCH.Clearnet, the expansion of our settlement and custody offering, development of our MTS Swaps service and sales of MillenniumIT software to global customers. In addition, we have seen exciting growth from SwapClear, as it continues to develop its interest rate swap clearing business in the US and elsewhere.
“We are well positioned in a wide range of businesses, and in a number of growth markets, and remain firmly focused on the execution of our strategy.” The Group expects to announce its Interim results for the six months ending 30 September 2013 on 13 November 2013.
August 27th, 2013 - Colombo, Sri Lanka: MillenniumIT, a leading technology solutions provider, today announces that it has become the first Silver Certified Partner in Sri Lanka of Cisco Systems, the worldwide leader in networking - transforming how people connect, communicate and collaborate. The Silver Certification recognizes partners for their broad technical skills and is a reward for loyalty to Cisco, for capabilities in providing value-added services, and for a commitment to customer success.
Gladwyn Georgez, Head of Networking Business at MillenniumIT said:
"As the only company in Sri Lanka to be a Silver Certified partner of Cisco Systems, based on local expertise, our new partner status is a great achievement for MillenniumIT. The award of this partnership level demonstrates our engineering expertise and our experience in providing our customers with the best solutions. It is also recognition of our commitment, dedication and investment in developing those skills by the worldwide leader in networking. As a Silver Certified partner of Cisco, our customers can now benefit from even greater returns on investments for product and service offerings from MillenniumIT."
B. Raghavendran, Director, Partner Organisation, Cisco India and SAARC said:
"Partners are an intrinsic part of Cisco's DNA, and the certification process substantiates the excellence that they demonstrate to truly become an extension of Cisco. We are extremely pleased to have MillenniumIT as our first Silver Partner in Sri Lanka. With specializations in Silver Partner, MillenniumIT has made an investment in delivering an integrated and customized technology solutions that today's customers demand. This certification will differentiate them from competition, help them tap new businesses, enable them to evolve their business model and make them more relevant to their customers."
MillenniumIT to provide capital markets technology
LSEG and Caja de Valores S.A. (CVSA) to develop business and technology partnership
London Stock Exchange Group today announced that it has been selected as the business development and technology partner by the Argentinian Central Securities Depository (CSD), Caja de Valores S.A. (CVSA). CVSA acts as the technology provider to the newly formed Bolsa & Mercados Argentinos exchange (B&MA). MillenniumIT, LSEG’s proprietary technology company, will supply capital markets technology across asset classes, including its ultra low latency, highly scalable trading platform, Millennium Exchange.
London Stock Exchange Group will also provide a range of ancillary services alongside the trading technology agreement to help further develop the Argentinian capital markets.
Mack Gill, CEO of MillenniumIT, said: “This is a significant contract win for us. Argentina is one of the largest economies in Latin America and we are delighted they have chosen MillenniumIT to further develop their capital market infrastructure. MillenniumIT has shown again that its highly scalable, low latency platform appeals to providers of capital markets around the world.”
Antoine Shagoury, COO of London Stock Exchange Group said: “LSEG is excited about the partnership opportunity to facilitate the next stage of Caja de Valores’ and B&MA development. Argentina continues to develop its market infrastructure and LSEG is looking forward to providing its extensive expertise and assistance at this critical time.”
Guillermo Lolla, Chairman of Caja de Valores S.A. said “We are pleased to have chosen London Stock Exchange Group’s MillenniumIT as our technology provider after an extensiveselection process. We also look forward to developing a strong partnership with LSEG to exploit their expertise, with specific focus on trading and post-trade services.”
Mr Ernesto Allaria, Director of B&MA said “Selecting MillenniumIT as our technology provider offers B&MA significant opportunities to take advantage of more globally interconnected markets. This represents an important step forward for B&MA as well as the rest of Argentina’s capital markets”.
July 23rd, 2013 - Colombo, Sri Lanka – MillenniumIT, a leading technology solutions provider, today proudly announced it has won the 2013 Microsoft Country Partner of the Year Award for Sri Lanka. The company was honored among a global field of top Microsoft Corp. partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology.
Awards were presented in multiple categories, with winners chosen from more than 3,000 entrants from 106 different countries worldwide. MillenniumIT was recognized for providing outstanding solutions and services, as well as demonstrating excellent subsidiary engagement in Sri Lanka. The Microsoft Country Partner of the Year Awards honor partners at country level that have demonstrated business excellence in delivering Microsoft solutions to multiple customers over the past year. This award recognizes MillenniumIT as succeeding in effective engagement with its local Microsoft office while showcasing innovation and business impact, driving customer satisfaction and winning new customers.
Sanjaya Dayananda, Head of Microsoft Business at MillenniumIT said: “We are very pleased to receive the Country Partner of the Year award for 2013 from Microsoft. This award cements our position as the leading provider for Microsoft products and services in Sri Lanka, our team being the only Microsoft Lync Support Partner and Microsoft Gold Certified Unified Communications Partner in the country. This award demonstrates not only our team’s level of engineering expertise, experience and the level of trust our customers place in us but also the value we bring to a worldwide leader in software, services and solutions.”
Jon Roskill, Corporate Vice President, Worldwide Partner Group, Microsoft Corp. said: “We are pleased to recognize MillenniumIT of Sri Lanka as a Microsoft Country Partner of the Year. MillenniumIT has delivered exceptional value to our mutual customers and is a shining example of the excellence we see in our best Microsoft partners.”
The Microsoft Partner of the Year Awards recognize Microsoft partners that have developed and delivered exceptional Microsoft-based solutions over the past year.
From left: Sanjaya Dayananda, Head of Microsoft Business, MillenniumIT & Jon Roskill, Corporate Vice President, Worldwide Partner Group, Microsoft Corp
Good Group performance – revenue up 39 per cent on Q1 last year at £249.7 million, reflecting growth across all business divisions and first time addition of LCH.Clearnet; revenue up 8% on an organic, constant currency basis
Information Services – revenue up 11 per cent with continued good growth from FTSE (up 8% on organic and constant currency basis)
Post Trade Services (excluding LCH.Clearnet) – the Group’s Italian-based operations reported revenues up by 10 per cent (up 5% on organic and constant currency basis)
LCH.Clearnet – £60.7 million total income contribution (excluding unrealised loss) since the Group’s completion of the acquisition of a majority stake, effective from 1 May 2013
Capital Markets – revenue up 11 per cent with growth in both primary and secondary markets (up 9% on organic and constant currency basis)
Technology Services – revenue up 28 per cent reflecting a strong performance from MillenniumIT (up 18% on organic and constant currency basis)
Ian Axe to leave his position as CEO of LCH.Clearnet Group; will remain in place to ensure an orderly transition
LSEG confirmed plans to expand its custody and settlement services through establishment of a new CSD in Luxembourg; a major new customer confirms selection of LSEG for settlement, custody and asset servicing
Commenting on performance in the past quarter, Xavier Rolet, Group Chief Executive, said:
“The Group has made a positive start to the year. Our portfolio of complementary global brands continues to perform well and we have seen revenue growth across all of our business divisions. In particular, we have delivered strong results from FTSE, MillenniumIT and from Capital Markets, reflecting an uplift in admissions and money raised, and improving market sentiment in secondary markets. “We are also pleased to report the first revenue contribution from LCH.Clearnet, which showed year on year top line growth, including strong performance from the SwapClear IRS service as it continues to gain good traction. Work is underway to drive the synergy benefits from the transaction with LCH.Clearnet. “We remain focused on delivering benefits from recent transactions, developing opportunities and expanding our global footprint. The Group is well placed to build on the positive start we have made so far this year”
June 16th, 2013 - Colombo, Sri Lanka – MillenniumIT, a leading technology solutions provider, today proudly announced that its badminton team had emerged winners at the Dulux 3rd MBA Inter-Firm Team Doubles Badminton Championships - 2013’ - Bowl category.
The Championships which were held from the 11th to the 14th of July saw 42 companies compete under 4 categories, of which the MillenniumIT team emerged champions of the Bowl Cup.
The players were on an unbeaten winning streak even in the qualifying rounds and entered in to the finals where they faced Virtusa, beating their competition, conclusively 3-0.
Dharshin de Silva – Captain of the MillenniumIT Badminton Team said:
‘I am very happy that our team won the Bowl Cup at this year’s Dulux 3rd MBA Inter-Firm Team Doubles Badminton Championships. This is the first time our team has participated at this tournament so it is a huge win for us. It is a team achievement we can all be proud of.’
This is the second significant win for the MillenniumIT badminton team whose women’s team won the championship trophy at the Mercantile 'E' Division badminton tournament held late last year.
Players from Left: Hashini Kumarage, Nuwan Abeysiriwardana, Nadith Pathirage, Dharshin de Silva, Dhammika Gunaratne & Marina Samaratunga
Mack Gill, SunGard SVP Corporate Development & Strategy appointed as new CEO
MillenniumIT founder and current CEO, Tony Weeresinghe, Director of LSEG Global Development, appointed MillenniumIT Non- Executive Chairman
MillenniumIT strongly placed to continue to drive global expansion, as a leading developer and supplier of innovative financial markets system technology
22nd May 2013, Colombo, Sri Lanka: Millennium Information Technologies (MillenniumIT) part of diversified international exchange business, London Stock Exchange Group (‘LSEG’), is today delighted to announce the appointment of John Mackay ‘Mack’ Gill, as its new CEO.
Mack joins MillenniumIT from global technology group, SunGard Data Systems Inc., where he was Senior Vice President, Corporate Development & Strategy. Prior to this, Mack held a number of senior roles at SunGard, including President of SunGard Global Technology and President of SunGard Global Services. Mack holds an MA in International Relations from Yale University and a BA in International Relations from the University of British Columbia. He is also Treasurer and a Board Director of the International Association of Financial Engineers (IAFE).
As MillenniumIT CEO, Mack will be responsible for all aspects of MillenniumIT, including strategy. He will be a member of the LSEG global Leadership Team and will report directly to Antoine Shagoury, LSEG COO & CIO. He will also work closely with Tony Weeresinghe, Non Executive Chairman, supporting his Global Business Development role. Mack will be based in Colombo, Sri Lanka.
Antoine Shagoury, LSEG COO & CIO, said “We are very excited to welcome Mack Gill to the Group and to the role of CEO of MillenniumIT. The business has flourished under Tony’s leadership, and we are now making the next important step in its development with Mack’s appointment.
“Mack has had an exceptional career at SunGard and has a wealth of experience in financial services technology, operations, product support and sales. He also brings with him the excellent strategic and international management skills developed whilst working as a senior executive in a large global business. This will be of tremendous value to MillenniumIT and the Group as we continue to grow the business”
Tony Weeresinghe, Non Executive Chairman, MillenniumIT and Director of Global Business Development, London Stock Exchange Group, added; “Millennium has had an extraordinary history since I founded it in 1996 and now provides market leading trading and capital markets technology to over 30 organisations worldwide, including London Stock Exchange Group. I am delighted that someone of Mack’s experience and expertise is now going to be leading MillenniumIT, as it moves to the next exciting stage in its development and I very much look forward to working with him.”
Mack Gill said “MillenniumIT is a global leader in its field and I am thrilled to be joining such an innovative and successful business. The evolving capital markets infrastructure and technology business offers many opportunities ahead, and I look forward to working with my new colleagues at MillenniumIT and London Stock Exchange Group around the world.”
MillenniumIT is a leading developer and supplier of ultra low latency, innovative trading technology, and in 2009 became part of LSEG, the international diversified exchange business. Since then it has gone from strength to strength, providing the Group with the world’s fastest trading platform and successfully expanding its customer base to over 30 other exchanges, financial market participants and international businesses across the world.
MillenniumIT, a leading technology solutions provider announced today that they have successfully become the first Microsoft Lync Certified Support Partner in Sri Lanka, enabling them to provide Microsoft backed premier support to customers who have deployed Microsoft Lync for voice.
Microsoft Lync combines different forms of communication such as telephony, mail, chat, document sharing and videoconferencing into one singular communication solution. Support for Lync was previously a part of Microsoft's Premier Support Program, which covers all their products. From July 2012 onwards, Microsoft began outsourcing Premier Support for Lync Enterprise Voice to its Unified Communication (UC) Gold partners that have completed the additional training and certification by Microsoft.
Sanjaya Dayananda, Head of Microsoft Business at MillenniumIT said: ‘We are very happy that Microsoft has recognized MillenniumIT as a Microsoft Lync Certified Support Partner. MillenniumIT is the only partner in Sri Lanka, one of 15 in Asia and one in only 60 worldwide. This will enable our engineers to provide a higher level of service to our customers as well as benefit from faster and direct access to Microsoft Escalation Engineers, when needed. Being a Microsoft Lync Certified Support Partner ideally complements our status as Sri Lanka’s only Gold Certified partner for Unified Communications and is a testament to our engineering expertise and investment in this business.’
Imran Vilcasim, Director EPG at Microsoft Sri Lanka said: ‘MillenniumIT has clearly set the bar in Sri Lanka and we look forward to welcoming them into our elite group of Microsoft Lync Certified Support Partners. They now belong to an exclusive group of highly trained professionals who are experienced in helping customers with end-to-end solutions & services. Of the deployments they have been involved in, some include Sri Lankan blue chip companies which provide ample evidence of the competencies MillenniumIT possess. They are also now able to reach a wider audience, certified to provide services to other countries in the region’.
As a Lync Certified Support Partner, MillenniumIT can act as a one stop shop to support Lync voice deployments and are authorized to provide services to Bangladesh, Brunei and Maldives.
Lalin Dias, MillenniumIT’s Vice President – Exchange Systems, will participate as a panelist in a roundtable discussion at the 16th Annual AFM Conference to be held in Johannesburg, South Africa, from 27th February to 1st March 2013. The topic of discussion is ‘IT in Developing Markets’.
The panel will explore whether the acquisition of appropriate, affordable and scalable IT remains a barrier to the development of new markets, looking at this from the perspective of markets and their members.
The panel will be moderated by Paul Constantinou from Trayport Ltd and other members of the panel include: Louisjan Bonthuys- Securities Trading Technology, South Africa, Michele Carlsson, Head of Business Development MEA, NASDAQ OMX and Pasi Miettinen, Managing Director, SageMarkets.
MillenniumIT is participating as an official exhibitor at the World Exchange Congress 2013 in London from February 12th to February 13th 2013 and we would be delighted to welcome you at our stall.
Our Director of Business Development, Jit Seneviratne, together with a team of product managers, will be happy to demonstrate how our world class, innovative Millennium Exchange, Millennium Surveillance and Millennium MarketData platforms will help you evolve your business and give you an unsurpassed edge over the competition.
The World Exchange Congress 2013 is the leading event for global exchange leaders to learn how to develop their strategy, drive exchange profitability, understand the impact of new regulation and define the role of technology within the trading environment.
It would be our pleasure to meet you and discuss with you in person our suite of capital market products.
MillenniumIT, a leading technology solutions provider announced today that Bursa Malaysia Berhad has migrated its equity and derivatives market surveillance systems to Millennium Surveillance, a multi asset, cross market surveillance platform, with effect from the 31st of December 2012.
The new surveillance platform will enable Bursa Malaysia to rapidly identify trading behaviour, and facilitates easier and faster implementation of changes in response to trading behaviours and regulatory developments.
The implementation of Millennium Surveillance at the Exchange involved the integration of the equity and derivatives trading platforms to a unified Surveillance system offering Bursa Malaysia a much richer insight to the trading practices of the brokers, traders and individual investors of the Malaysian market.
Tony Weeresinghe, Chief Executive Officer of MillenniumIT said, “We are delighted that Bursa Malaysia is now live with our Millennium Surveillance product for the surveillance of its equity and derivatives markets. The Millennium Surveillance platform will further enhance Bursa Malaysia’s effectiveness in ensuring a fair and orderly market, thereby improving the confidence of market participants.”
This initiative signals to investor’s Bursa Malaysia’s commitment to investor protection which is in line with the Exchange’s broader effort to create a more facilitative trading environment for investors.
London Stock Exchange Group today announced that it has entered into a technology partnership with Bolsa de Valores de Lima. MillenniumIT, a wholly-owned subsidiary of London Stock Exchange Group will provide state of the art trading and Smart Order Routing technology to Peru’s markets via its ultra low latency, highly scalable trading platform, Millennium Exchange and Millennium SOR.
Tony Weeresinghe, Director of Global Development at London Stock Exchange Group and CEO of MillenniumIT, said:
“This is a significant achievement for us. Peru is one of Latin America’s fastest growing economies, and there is need for efficient, reliable capital markets infrastructure as business and investment continues to develop there. We look forward to building on this partnership, and playing our part in the next stage of Bolsa de Valores de Lima’s development.”
Francis Stenning, CEO at Bolsa de Valores de Lima, said:
“We are very conscious of the relevance of technology in our business. That is why we believe this upgrade in our electronic trading platform and order routing system will take us to the forefront of technology. It will allow Bolsa de Valores de Lima to keep up with the growing Peruvian economy, provide new services to the local market and increase its efficiency. This will allow us to benefit from better tools and a strategic alliance with one of the most developed stock exchanges in the world, London Stock Exchange Group, and to take advantage of more globally interconnected markets, including MILA.”
9th January 2013, Colombo: MillenniumIT, a leading technology solutions provider announced today that MAS Holdings has gone live with Microsoft Lync, a state-of-the-art turnkey solution provided jointly by MillenniumIT and Dialog GSM.
MillenniumIT, part of London Stock Exchange Group, welcomed MAS Holdings to the elite group of enterprises to adopt the Microsoft Lync Server as their main platform to collaborate and communicate with their corporate employee network.
While reducing costs involved in audio and web conferencing, Lync will enable MAS employees to collaborate by sharing knowledge and information efficiently, regardless of location. Ad-hoc meetings between individuals or large groups will be made far more effective with Lync’s online meeting capabilities.
MAS Holdings, the region’s leading manufacturer of intimate apparel, performance wear and swimwear lays claim to a wide network of 41 world-class apparel facilities and design centers spread over ten countries. All remote offices and employees will benefit with the use of Lync capabilities, with multiple modes of communication offered to optimize the company’s business methods. Value and cost reduction is provided along with flexibility of instant multi-channel communication, from Instant Messaging to voice conversation or even desktop sharing.
Sanjaya Dayananda, Head of Microsoft Business at MillenniumIT said: ‘We are happy that MAS Holdings has chosen MillenniumIT to enable them to go live with Microsoft’s Lync Server. Lync’s highly secure and reliable communication system works with existing tools and systems for easier management and lower cost of ownership, and will support the Group with greater choice and flexibility in their communication methods.’
Senaka Harischandra, Chief Information Officer of MAS Holdings said: ‘Based on the reputation that MillenniumIT’s Microsoft Solution team has earned in the industry for their engineering skills and the quality of their deployments, MAS embarked on this enterprise-wide initiative on a hosted model provided by Dialog. In this project, MillenniumIT has proven their capability and in some cases exceeded our expectations throughout the implementation process. With this implementation MAS expects a significant reduction in time and cost of travel between the factories and office sites situated both locally and overseas, resulting in greater productivity and speed all round.’
The women's team of MillenniumIT emerged champions after beating HDPL at the recently concluded Mercantile 'E' Division badminton tournament. Having entered the tournament for the first time, the team, led by Marina Samaratunga and comprising Kesara Amaradasa, Bhagya DeSilva & Kulaly Thiruchelvam decisively beat their opponents and walked away with the championship trophy.
Meanwhile, the MillenniumIT Men's B team, comprising Nilanka Diyabalanage, Dulindra Wijethilake, Kalpa Gamage, Suhan Dharmasuriya, Avantha De Silva, Supun De Silva and Sudantha Athauda reached the semi finals after beating HDPL men's team. They lost to Airport And Aviation in the semi finals.
Team A won against Richard Pieris and GSK and lost to IBM in the qualifying rounds.
"This is the first time that MillenniumIT has taken part in the Mercantile Badminton tournament" said Nilanka Diyabalange. . "We would like to thank the management of MillenniumIT for giving us this opportunity and for supporting us throughout the tournament."
From left - -Dhammika Gunaratne, Nilanka Diyabalanage, Marina Samaratunge, Bhagya De Silva, Kesara Amaradasa, Suhan Dharmasuriya, Nadith Pathirage, Dulindra Wijethilake
Sri Lanka, London –22nd November 2012: MillenniumIT, a leading technology solutions provider and part of London Stock Exchange Group announced today that Oslo Børs, the Norwegian stock exchange has gone live with the automated trading system (ATS), Millennium Exchange.
Millennium Exchange, a flexible, highly scalable and ultra-low latency platform, will be used for both the equities and fixed-income marketplaces at Oslo Børs. The ATS which is particularly suitable for modern trading methods, will strengthen Oslo Børs’ distribution to international broking firms and global investors.
Tony Weeresinghe, CEO of MillenniumIT and Director of Global Development at London Stock Exchange Group said:
'We are delighted to have successfully migrated another European exchange onto the MillenniumIT platform in a project which has taken less than twelve months. Oslo Børs members can now benefit from the high performance and rich functionality of Millennium Exchange, alongside other European users. This is an important milestone for London Stock Exchange Group since the Oslo Børs markets were the last still using the legacy TradElect system, which will now be decommissioned.’
Bente A. Landsnes, President and CEO of Oslo Børs said:
‘We are extremely pleased with the successful launch of the new trading system. It is important for Oslo Børs to offer high quality state-of-the-art technology to ensure that our marketplaces remain competitive and to help our customers to offer even better products and services to the market".
Oslo Børs is in the process of acquiring the Nordic MTF Burgundy and following the successful launch of Millennium Exchange Oslo Børs is also planning to migrate Burgundy to MillenniumIT technology, during the course of 2013, enabling trading in Nordic financial instruments on the same platform.
Sri Lanka, London –15th November 2012: MillenniumIT, a leading technology solutions provider and part of London Stock Exchange Group announced today that they had signed an agreement with Hong Kong Exchanges and Clearing Limited (HKEx), to provide the bourse with its gateway platform Millennium SOR for its Orion Central Gateway project.
The Orion Central Gateway project will see the introduction of a Central Gateway to replace the existing distributed gateway infrastructure in the cash market of the exchange. The implementation of the MillenniumIT platform will result in reduced costs to market participants, reduced latency and result in the market migration to the protocols and methods that will be adopted within the exchange’s future trading system.
Tony Weeresinghe, CEO of MillenniumIT and Director of Global Development at London Stock Exchange Group said:
‘We are very pleased that MillenniumIT has been selected by HKEx to power its Orion Central Gateway. To be chosen by a world leader in capital markets is a testament to the superior architecture of our products, which are capable of delivering fast, flexible and high availability solutions. We look forward to working with HKEx to provide its participants with increased efficiencies in connectivity to the exchange.’
Julian Ragless, Senior Vice President of Platform Development and Strategy at HKEx said:
“The HKEx Orion Central Gateway is a further step in our aim to provide a more efficient trading infrastructure for our trading community, and to boost competitiveness for the overall Hong Kong market. In evaluating service providers, we applied a stringent set of requirements in terms of performance and functionality. We selected the Millennium SOR based on its capability to handle a high level of order throughput with microsecond levels of latency and high availability.”
The project is currently expected to go-live in the third quarter of 2013, providing cost efficient performance, functionality, flexibility and availability on the order management infrastructure of the exchange.
MillenniumIT is now live at over 30 customer sites around the world.
Sri Lanka, London – 5th November 2012: MillenniumIT, a leading technology solutions provider and part of London Stock Exchange Group announced today that the Botswana Stock Exchange (BSE) went live with its new automated trading system (ATS), Millennium Exchange.
Millennium Exchange replaced BSE’s manual trading system that was based on the open outcry method. In addition, MillenniumIT’s central securities depository (CSD) system, which was running at BSE since 2008 has been upgraded alongside the implementation of the new ATS.
Tony Weeresinghe, CEO of MillenniumIT and Director of Global Development, London Stock Exchange Group said:
‘I am delighted that Botswana Stock Exchange is now live on MillenniumIT’s leading Automated Trading System. Millennium Exchange is a next generation trading platform that offers ultra-fast order processing capabilities, and together with the upgraded CSD system, will allow BSE to be more efficient, offer enhanced services and a better trading experience for its customers.’
Mr. Hiran Mendis, CEO of Botswana Stock Exchange said:
‘This is the first time an ATS has been introduced in Botswana and represents an important milestone in the modernisation of Botswana’s capital markets. We are confident that this system will create more liquidity and attract more investors to our rapidly growing economy.’
MillenniumIT is now live at over 30 customer sites and securities exchanges around the world.
Sri Lanka– 24th October 2012: MillenniumIT, a leading technology solutions provider and part of London Stock Exchange Group announced today that the company's founder and CEO Tony Weeresinghe was appointed as a Director of the World Federation of Exchanges (WFE) earlier this month.
Weeresinghe was officially elected to the board at the 52nd WFE General Assembly and Annual Meeting which represents the largest and most widely attended gathering of global exchange leaders, held in Taipei this year. The World Federation of Exchanges is the trade association for the operators of regulated financial exchanges. With 54 members from around the globe, the WFE develops and promotes standards in markets, supporting reform in the regulation of OTC derivatives markets, international cooperation and coordination among regulators. WFE exchanges are home to more than 45,000 listed companies.
Tony Weeresinghe, CEO of MillenniumIT and Director Global Development at London Stock Exchange Group said:
'I am pleased to have been elected to board of directors of the WFE, representing London Stock Exchange Group. This appointment demonstrates that the innovativeness of London Stock Exchange Group in the last few years is both recognised and valued by our peers. I look forward to contributing ideas for positive change in my elected capacity.'
The newly appointed board of directors will be led by the new Chairman Andreas Preuss, Deputy CEO of Deutsche Norse Group and CEO of Eurex and Vice Chairman Thomas A. Kloet, CEO of TMX Group.
Monday 22nd October 2012 - Sri Lanka, London: MillenniumIT, a leading technology solutions provider and part of London Stock Exchange Group (LSEG), today announced that it has signed a contract with the London Metal Exchange (LME) to provide the exchange with new surveillance software.
This agreement will see LME, which currently also uses MillenniumIT’s trading platform, Millennium Exchange, as one of its two trading platforms for its derivatives market, upgrade its surveillance application to MillenniumIT’s, real time, multi asset class surveillance platform. The implementation of Millennium Surveillance will also allow for the integration of LME’s current reference data management system, streamlining operations and giving LME greater efficiencies.
Tony Weeresinghe, CEO of MillenniumIT and Director of Global Development at LSEG said: “We are very happy that the London Metal Exchange has chosen Millennium Surveillance as its new surveillance platform. We are confident that this will enable LME to accurately monitor its markets, providing real time detection of abnormal trading patterns.”
Diarmuid O’Hegarty, Deputy Chief Executive at the London Metal Exchange said: ”MillenniumIT’s surveillance application will provide us with a very flexible real time analysis of trading patterns. This will enhance our ability to detect and query real or apparent market abnormalities. The flexibility of the surveillance platform will allow the LME to develop new alerts, to adapt to market changes and to manage volume growth.”
MillenniumIT is now live at over 30 customer sites and securities exchanges around the world.
Sri Lanka, U.K. – 30th July 2012: MillenniumIT, a leading technology solutions provider and part of London Stock Exchange Group (LSEG), today announces that Millennium Surveillance, the company’s trading surveillance software has gone live at the Egyptian Exchange (EGX), one of the oldest exchanges in the region. This news follows the LSEG announcement of the successful launch of MillenniumIT systems at three exchanges: Johannesburg Stock Exchange, Mongolian Stock Exchange and Borsa Italiana, part of LSEG. MillenniumIT, which has over a decade of experience in building technology solutions for the capital markets industry, have provided EGX with a Trading Surveillance System, built around an evolutionary architecture capable of adapting to the changing needs of the market. Millennium Surveillance will help EGX effectively maintain an orderly market in today’s fast paced, electronic trading environment. Millennium Surveillance will enable EGX to proactively, accurately and rapidly identify abusive behaviour and conduct further investigations to ensure a fair, efficient and transparent market for all participants.
Tony Weeresinghe, CEO of MillenniumIT and Director of Global Development at London Stock Exchange Group said: "We are very pleased offer our services to the Egyptian Exchange to improve its surveillance and market monitoring functions. We believe our state-of-the-art system will not only help EGX better oversee its market through rapid detection of abnormal trading activity but also help support this detection by further investigation of these behavioral patterns."
Dr. Mohammed Omran, Executive Chairman of the Egyptian Exchange said: "We are happy to announce that EGX is now live with Millennium Surveillance, an international best practice surveillance system. We are very confident that our new system will allow EGX to fulfil our vision of providing a high quality market place through greater transparency. Equipped with technology that can meet the future demands of the market, we look forward to establishing ourselves as a highly equitable exchange which is committed to market integrity."
Borsa Italiana, Johannesburg Stock Exchange and Mongolian Stock Exchange successfully migrate to ultra low-latency trading platform, Millennium Exchange
Exchanges to benefit from improved latency, efficiency and scalability
London Stock Exchange Group (LSEG) today announces that three exchanges on three continents, Borsa Italiana, Johannesburg Stock Exchange and Mongolian Stock Exchange have, within the last month, successfully migrated to the Group’s ultra-low latency, high performance trading platform, Millennium Exchange.
Developed by MillenniumIT, LSEG’s proprietary capital markets technology provider, Millennium Exchange is the world’s fastest trading platform, facilitating all trading on London Stock Exchange’s flagship UK equity market.
The Mongolian Stock Exchange successfully migrated to the new platform on 2 July, marking the culmination of a 14-month project to completely modernise the country’s capital markets infrastructure. As well as overhauling the market’s technology, LSEG developed a wide-ranging education programme for market participants and worked with the Mongolian government to re-write the country’s capital markets regulations and securities law. An official launch in Mongolia is scheduled for later this year.
Xavier Rolet, CEO London Stock Exchange Group said:
“London Stock Exchange Group was very pleased to have been selected to work with the Mongolian Stock Exchange and we are delighted to have successfully delivered a world-class exchange platform. The development of stable, efficient and transparent capital markets infrastructure is a vital step in Mongolia’s journey towards greater prosperity. London Stock Exchange Group’s MillenniumIT technology, now installed at the MSE, will create new and exciting opportunities for the country’s leading companies and allow them to raise capital, in Mongolia and overseas, with confidence. We look forward to the future and continuing to work with our partners in Mongolia.”
Borsa Italiana became the fourth of LSEG’s markets to migrate to MillenniumIT joining London Stock Exchange, Turquoise and the Order Book for Retail Bonds. Equity, structured product and fixed income trading at the Italian exchange will now take place via Millennium Exchange. Borsa Italiana has also updated the configuration of its servers in Milan, bringing the hardware closer to its markets to ensure better efficiency and coverage.
Johannesburg Stock Exchange also completed its migration to Millennium Exchange within the last month. The JSE moved its trading system back to Johannesburg from London – a transfer aimed at enhancing operational efficiencies and ensuring trading optimisation for market participants.
Tony Weeresinghe, CEO of MillenniumIT and Director of Global Development at the LSEG said:
“These migrations serve to highlight Millennium Exchange’s extraordinary versatility. From Mongolia’s fledgling market to Borsa Italiana, one of Europe’s largest exchanges, our technology provides world-leading latency, exceptional flexibility and scalability. The Mongolian project in particular demonstrates the speed with which our systems can be installed and activated even in a market with no history of electronic trading.”
MillenniumIT technology is now live at over thirty customer sites across Europe, Asia, Africa and the Americas.
June 28th 2012, Colombo, Sri Lanka: MillenniumIT, a leading technology solutions provider, announced that ahead of Microsoft's launch of MS Office 365 in Sri Lanka, the first cloud-based, hosted version of its world-leading Microsoft Office applications suite that Millennium's Microsoft team are already competent and certified to provide cloud and O365 solutions.
According to Microsoft, 'Office 365 provides the greatest set of productivity tools in the market today by bringing together online versions of our email and collaboration software with our familiar Office Professional Plus suite in the cloud.' The new cloud-based suite is designed to help deliver security, 24/7 reliability and user productivity.
Sanjaya Dayananda, Head of Microsoft Business at MillenniumIT said: 'Once, cloud computing was a nebulous concept, as vaporous as its name implied. No more. Today, the world's biggest IT companies are taking the cloud very, very seriously. And few IT companies come bigger than Microsoft. The imminent launch of Office 365 will find MillenniumIT ready and able to help Sri Lankan business innovators migrate to more effective, more accessible cloud-based services - from day one onward.'
Pubudu Basnayake, Director - Small and Midmarket Solutions & Partners at Microsoft said: 'Primarily a solutions company with 'gold' certification in many Microsoft competencies, MillenniumIT being one of our top enterprise partners for Microsoft in Sri Lanka, has the vision, as well as the strength and depth, to carry these Cloud related solutions forward into the market. They are cloud-ready already, which means they have the competence and resources to offer licensing and professional services through people who are already trained in cloud technologies. We are very encouraged to see Partners skilling themselves up ahead of the launch which is a very positive sign for Sri Lanka Customers.'
The Microsoft Office 365 cloud-based application suite features anywhere-access to email, documents, contacts, and calendars on nearly any device; business-class features including IT-level phone support, a services-level agreement with financially-backed 99.9% uptime, geo-redundancy and disaster recovery; pay-as-you-go pricing options and flexible online transition terms that deliver predictability and organizational flexibility; and seamless integration with Microsoft Office.
Borsa Italiana's CASH markets go live on MIllennium exchange
- Clients offered ultra low latency and superior functionality
- Updated configuration of servers in Milan
London Stock Exchange Group is pleased to announce that Borsa Italiana's
cash markets have migrated to the ultra low-latency trading platform,
Millennium Exchange. The Millennium Exchange offers new order types,
broadening trading and investment opportunities for market operators*.
The move follows the successful migration of London Stock Exchange's cash
markets, Order Book for Retail Bond Market and the Turquoise MTF platform.
Millennium Exchange is a highly scalable, multi-asset class trading
platform, offering the LSE Group's customers superior technical performance,
ultra low-latency and enhanced functionality and flexibility.
Borsa Italiana has also updated the configuration of its servers in Milan,
bringing the hardware closer to its markets to ensure better efficiency and
Raffaele Jerusalmi, CEO of Borsa Italiana said:
"The migration of Borsa Italiana's cash markets to the Millennium Exchange
represents an important step for Borsa Italiana and its customers. As we
have seen with previous migrations across the LSE Group, the platform
provides exceptional levels of performance, functionality, and capacity."
12th June 2012, Colombo, Sri Lanka: MillenniumIT, a leading technology solutions company announced today that it was awarded the “Partner of the Year 2011” and the “Best Partner for Oracle Systems Business” by Oracle Sri Lanka.
At an awards ceremony held in Colombo recently Millennium clinched the ‘Partner of the Year 2011’ and the coveted ‘Best Partner for Oracle Systems Business’ awards. The awards were presented by Oracle Sri Lanka to MillenniumIT in recognition of Millennium’s vision, dedication and commitment to the Oracle business.
Samantha Ratiyala, VP of Information Infrastructure Business at MillenniumIT said:
‘We are very pleased to receive Oracle’s prestigious Partner of the Year and Best Partner Awards for Sri Lanka. These awards are an acknowledgement of our engineering expertise and reaffirm our position as the leading Oracle Partner in Sri Lanka. Clearly, a more focused approach towards growing our business together with our partners has paid off and we look forward to an exciting year ahead, leveraging Oracle’s advantage as both a hardware and software company, to grow our businesses together in the future.‘
Oracle, praised MillenniumIT:
“In recognition for being the Top Performing Technology partner over the years and for their dedication by bringing in the largest deals in Oracle Sri Lanka’s history and their unwavering commitment to having the most highly qualified post and pre-sales teams in ensuring highest levels of customer satisfaction. MillenniumIT is honored as Partner of the Year for Technology.”
Oracle also commended MillenniumIT:
"In recognition of unwavering commitment and contribution towards market development by sales teams redefining go-to-market strategies, engineering teams ensuring the highest level of customer satisfaction, MillenniumIT have conclusively proven outstanding results by growing overall Oracle Systems’ business in Sri Lanka by over 100%”.
Millennium also won Oracle’s Partner of the Year Award (System integrator Category) in 2008, the first company to win this award in Sri Lanka
From left: Alex Tay – Senior Sales Director at Oracle Systems Business, Faiq Faiz - Executive VP at MillenniumIT and Sin Sun – General Manager, Alliances & Channels – ASEAN at Oracle Corporation.
From left: Nalin Sikurajapathi – Senior Territory Manager at Oracle Technology Business, Samantha Ratiyala - VP of Information Infrastructure Business at MillenniumIT and Sin Sun – General Manager, Alliances & Channels – ASEAN at Oracle Corporation.
24th January 2012, Colombo: MillenniumIT, a leading technology solutions provider and a part of London Stock Exchange Group (LSEG), today 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 Tony Weeresinghe, MillenniumIT’s CEO were amongst those present at the foundation stone laying ceremony held today at the construction site.
Since MillenniumIT joined LSEG, there has been no looking back for either party. London Stock Exchange’s (LSE) 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 LSEone 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.
Xavier Rolet, CEO of the London Stock Exchange Group 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.”
Tony Weeresinghe, CEO of MillenniumIT said
”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, H. E. Mr. 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.” ...
Chairman of LSE, Chris Gibson-Smith laying the foundation stone. Also in the picture Tony Weeresinghe, CEO of MillenniumIT & Anush Amarasinghe, COO of MillenniumIT
L: Xavier Rolet ( CEO, LSE), Chris Gibson-Smith (Chairman, LSE) & Tony Weeresinghe (CEO, MillenniumIT)
Millennium Information Technologies Pvt Ltd (MillenniumIT), a premier technology solutions provider and member of the London Stock Exchange Group, announced today that its trading software is now live at the Chittagong Stock Exchange.
There was excitement at the Chittagong Stock Exchange (CSE) as traders went live with a new state-of-the-art automated trading and surveillance platform based on proprietary MillenniumIT technology. The CSE now runs Millennium Exchange as well as MillenniumIT’s new surveillance software and Internet-based trading workstations with built-in risk management delivered by implementing partner, Polaris India. Polaris also supported the implementation with new broker back-office software, providing trader workstations, internet-based client access for order placement and market information, as well as a full-feature, centrally hosted, broker back office.
Installation, trials and final implementation took nine months, a relatively rapid turnaround given the parameters and challenges of the project. The new platform enables fast, efficient automated trading with integrated risk management, an innovation at the Exchange. The surveillance solution, which went live at the same time as the Exchange platform, allows the CSE's compliance staff to perform real-time as well as historical surveillance. With the new platform in place, the Chittagong Stock Exchange now has a clear technological advantage over its big brother, the Dhaka Stock Exchange.
Tony Weeresinghe, CEO of MillenniumIT said: ‘We are very pleased that our systems are now live at the Chittagong Stock Exchange. Millennium Exchange is a next generation trading platform that offers ultra fast order processing capabilities, and we are confident that our systems will help the CSE increase their revenue streams. Together with the introduction of Millennium’s Surveillance system, the new software will help increase integrity and encourage ethical trading practices in the market.’
Syed Sajid Husain, Chief Executive Officer at the Chittagong Stock Exchange said: ‘We are very excited that we are now live with Millennium’s automated trading and surveillance systems at the CSE. The MillenniumIT team were both dedicated and professional, carrying out the implementation very efficiently and keeping to the agreed project timelines. The trading platform has been tested for 1 million orders with 2500 orders/sec with a latency of less than 1 ms. The enhanced surveillance capabilities will help CSE to establish a strong compliance and monitoring system within the market. Armed with the new Millennium trading technology, we are now looking forward to leveraging the benefits of increased turnover and introducing new products to meet market demands such as derivatives in the near future. ‘
Mr. Syed Sajid Husain - Chief Executive Officer at the Chittagong Stock Exchange
• Agreement for equity, derivatives, FX trading and clearing technology • Low latency platform will offer international investors advanced
technology access to India’s capital markets
Millennium Information Technologies (MillenniumIT),
a leading technology solutions provider and a member of the London Stock
Exchange Group, announced that it has signed a contract with the Delhi Stock
Exchange (‘DSE’) to provide the Indian Exchange with trading technology. The
deal will see MillenniumIT provide solutions for equity, derivatives and FX
trading as well as clearing technology.
Millennium Exchange is an ultra low latency, highly
scalable trading platform offering low-cost solutions to exchange businesses
around the world.
Tony Weeresinghe, CEO of MillenniumIT and Director of Global Development at London Stock Exchange Group said:
“We are delighted to have been chosen to provide trading and clearing technology solutions to the Delhi Stock Exchange. India is a dynamic and fast developing market and we look forward to working with the Delhi Stock Exchange to introduce a high-speed, low-cost trading solution to the Indian market.”
A timetable for implementation will be announced in due course.
Millennium Information Technologies (MillenniumIT),
a leading technology solutions provider is delighted to announce the
appointment of Amit Alok asits new
President and General Manager.
Two years ago MillenniumIT became part
ofLondon Stock Exchange Group Plc, the
international exchange business, and since then has gone from strength to
strength, providing the Group with the world’s fastest trading platform and successfully
selling its technology to other exchanges, financial market participants and
Sri Lankan and international organisations across the world.
Under founder and CEO Tony Weeresinghe's
leadership, MillenniumIT has flourished. With Tony’s London Stock Exchange
Group role continuing to expand, Amit’s appointment will deliver additional
management strength to MillenniumIT as it moves into its next stage of
Amit Alok, is the former Managing Director of
the ECN business division (Asia-Pacific & Japan) at the Economist Group. Amit will report
directly to Tony Weeresinghe.
Announcing the appointment, Mr. Weeresinghe
said, “This is great news for Millennium
Information Technologies. Our recent extraordinary expansion has driven our decision
to reinforce the top management at the firm and we are delighted to welcome
Amit Alok to the team”.
Mr Weeresinghe added, “In the two years since the LSE acquired us, we’ve seen our business
grow, several fold. That’s not just a difference of degree, that’s a whole new
kind of company.I’ve been running
things with my senior team – the same familiar faces – ever since our
foundation in 1996 and it’s now time to bring in some new fresh skills, to fortify
ourselves. There are so many opportunities out there and we want to capitalise
on those. Having Amit take on the role of President & General Manager will
allow me more time to promote MillenniumIT internationally, more time to drive
the Group’s international development business and more time to focus on the
delivery of our growth strategy”.
With a CV testifying to a long and successful
career as a manager of technology firms – Mr. Alok brings valuable and broad
skills to MillenniumIT. He has seen significant stints at Microsoft and
Symantec, had his early experience at Reuters in Europe and Asia and, more
recently, as head of the Economist Corporate Network in Asia.His broad range of experience will help MillenniumIT
to further develop their businesses.
Mr Alok said:“I’m delighted to be joining the London
Stock Exchange Group as President & General Manager of MillenniumIT. I know
the company from my past experience working in Sri Lanka and look forward to
working with Tony and the current management team to drive the business
forward, taking it to the next level.”
Fizzing with new ideas as always, Mr.
Weeresinghe spoke enthusiastically of ‘transforming
the business model’ to leverage new developments in securities markets and
the technology that supports them. Millennium IT’s Linux-based trading platform
now supports the London Stock Exchange as well as many other exchanges and
trading networks worldwide. The most recent adopter of Millennium IT technology
was Oslo Børs, the Norwegian Stock Exchange.
Mr. Weeresinghe emphasised that Mr. Alok’s
appointment did not signal the end of his own involvement in Millennium IT. ”The company is a pivotal element of the LSE
Group and its welfare within the group will be my personal responsibility,’
he said, ‘Amit will certainly have full
autonomy as President and General Manager, but I shall remain closely involved
with Millennium IT”.
Amit Alok –President/General Manager, MillenniumIT
Polaris Software and MillenniumIT Join Forces to focus on Emerging Sri Lankan Market
Polaris Software (POLS.BO), a leading global Financial Technology Company and MillenniumIT, a leading information technology provider and part of London Stock Exchange Group, today announced that Citizens Development Business Finance plc (CDB), a leading financial institution in Sri Lanka, has signed Polaris’ IntellectTM Core Banking Solution (CBS), a comprehensive core-banking product with multi-currency, multi-branch and multi-banking capabilities to transform their banking technology platform.
The IntellectTM product suite supports a wide spectrum of banking operations ranging from basic Core modules, General Ledger, Operational Accounts, Deposits, Loans and Advances, Leasing,Counter Operations, Remittances, to other more specialized modules such as, Pawning, Debentures, Securitisation, Loan Origination, Integration Middleware, MIS and Analytics, Audit Trail and Access Control with Single Sign-on.
This well developed application software will enable CDB to increase its efficiency, performance, security and transparency of its day -to- day operations allowing its customers to enjoy a higher level of service. IntellectTM CBS will also facilitate smooth integration to different initiatives and provide a platform for ensuring risk control through its various processes.
CDB opted for IntellectTM CBS because its advanced technology offers high performance whilst enabling it to have a highly configurable functionality which ensures that minimal customization is required as most of the current and future requirements including business process changes, can be fulfilled using configuration. This together with its around-the-clock real-time accessibility and availability and the fact that it is web enabled, will allow the Bank to rapidly realize its growth and expansion plans.
Speaking on the occasion Mr. Mahesh Nanayakkara MD & CEO, CDB said: “ IntellectTM will support future growth plans of CDB in terms of business scaling, product depth and meeting ever evolving customer expectations. Signing up with IntellectTM will pave the way for CDB to have the competitive edge over competition which is imperative for business growth. IntellectTM will support the future growth plans of CDB in terms of business scaling, product depth and meeting ever evolving customer expectations. The implementation of this system will create the technological framework that will cater to all requirements of CDB as we rapidly expand our geographic presence.”
Commenting on the deal K Srinivasan,Executive Vice President & Geography Head, Indian Subcontinent, Middle East, and Africa (IMEA) for Polaris said, “ CDB choose Polaris after a lengthy due diligence and this win is indeed prestigious to us! There is a need for high quality CBS solutions in Sri Lanka that specifically addresses the need of this segment and we are indeed bullish.“
Faiq Faaiz, Executive Vice President, MillenniumIT said: “As the local business partner of Polaris, MillenniumIT is excited to play an integral part in the IntellectTM implementation at CDB, which is a key role in delivering technology to benefit the bank’s business expansion plans. We firmly believe that our experience in core banking technology and expertise in local banking and financial services will provide the skills necessary to support this implementation, including products and applications from IBM, Veritas and Oracle. The MillenniumIT team will also provide CDB with post go-live support”.
(from left) - Mr. Imdaad Naguib (AGM – IT, CDB), Faiq Faiz (Executive VP, MillenniumIT), Tony Weeresinghe (CEO, MillenniumIT), Mahesh Nanayakkara (CEO, CDB), K Srinivasan (Partner & Geography Head - Indian Subcontinent, Middle East, Africa ( IMEA), Polaris Software Lab)
Colombo, Sri Lanka, June 2011: Millennium Information Technologies Pvt Ltd (MillenniumIT), a premier technology solutions provider and member of the London Stock Exchange Group, announced that it had been awarded the coveted Best Partner of the Year 2010 in the SAARC region by Check Point Software Technologies India at an awards ceremony held recently. Check Point Software Technologies, a worldwide leader in securing the internet, provides customers with uncompromised protection against all types of threats, reduces security complexity and lowers total cost of ownership.
At the Check Point Indian subcontinent Partner Sales Kick Off 2011 held in Goa, India, attended by over 150 partners from across the region, MillenniumIT was presented with Check Point’s Best Partner for 2010 for the SAARC region based on their superior technical skills and commercial success.
Rahal Jayawardena, Head of Information Security at MillenniumIT said: ‘We are very pleased to receive the prestigious Best Partner of the Year award for the SAARC region from Check Point. This award is an acknowledgement of our technical excellence and reaffirms the trust placed in us by our customers to design and implement advanced security solutions. This year we aim to reach another important milestone with Check Point by completing the integration of their entire solution stack, including CheckPoint’s high-end solutions targeted at Managed Service Providers, a rare achievement for any systems integrator in Asia.
Bhaskar Bakthavatsalu, Regional Director – India & SAARC at Check Point Software Technologies said, “MillenniumIT definitely deserves this award. They are constantly growing, evolving, both in consulting and delivering solutions around our various technologies. MillenniumIT played an essential role in Check Point's success in Sri Lankan market in past 8 years. Check Point Partner Awards was instituted to recognize and honour our partners. We are committed in providing development opportunities in the industry for our partners and are keen in providing them constant support and training. MillenniumIT is one of our dedicated partners and we are confident of even better accomplishments together in future."
Rahal Jayawardena (3rd from left), Head of Information Security, MillenniumIT accepting the award from Bhaskar Bakthavatsalu, Regional Director – India & SAARC at Check Point Software Technologies (1st from left). Also in the picture are Mario Gooneratne (2nd from left), Business Development Manager - Enterprise Security, MillenniumIT and Demith Samaraweera, Technical Head - Security Solutions, MillenniumIT.
Offers clients ultra low latency and superior functionality
The London Stock Exchange's UK cash markets have today migrated to a new ultra low-latency trading platform – Millennium Exchange. Developed by London Stock Exchange Group's leading trading technology business Millennium IT, Millennium Exchange is a highly scalable, multi-asset class trading platform, offering the Exchange's clients superior technical performance, ultra low-latency and enhanced functionality.
Antoine Shagoury, Chief Information Officer, London Stock Exchange Group, said:
"Today's roll-out of Millennium Exchange for our UK cash markets demonstrates our continued commitment to technological innovation in the marketplace. We are confident that this new platform will provide our customers with exceptional levels of performance, functionality, and capacity.
"This migration is a crucial step forward in our drive to offer best in class trading services and marks a key milestone in the introduction of tightly integrated transaction technology across our markets."
The timeline for further phases of the London Stock Exchange Group's migration to Millennium Exchange, covering the other markets operated by the Group, will be released in due course.
• An international exchange leader strongly positioned for growth • #1 venue in the world by number of listings • #1 global listings venue for natural resources, mining, energy and clean technology • Market leader in high-performance, cost-effective cash and derivatives trading technology • Scale and reach actively managed from joint headquarters in London and Toronto, supported by international centres of excellence
London Stock Exchange Group plc ("LSEG") and TMX Group Inc. ("TMX") today announced an agreement to combine Europe's and Canada's leading diversified exchange groups in an all-share merger of equals. The merger will create a world-leading organisation and is unanimously being recommended by the Boards of both LSEG and TMX.
The combined transatlantic group ("LSEG-TMX" or the "Merged Group") will be jointly headquartered in London and Toronto and will offer an international gateway, leading global pools of capital formation and liquidity together with a unique portfolio of highly complementary markets, products, technologies and services.
The Boards of LSEG and TMX believe that the merger is strategically compelling and will create a more diversified business with greater scale, scope, reach and efficiencies, generating substantial benefits for all stakeholders:
• Global Listings Hub - A leading global listings franchise:
o A flexible and deep pool of international capital and investment expertise o International markets for businesses of all sizes, from venture-funded companies, through small and medium enterprises ("SMEs") to large global corporations o The #1 listings venue in the world by number of total listings - over 6,700 companies with an aggregate market capitalisation of approximately £3.7 trillion / C$5.8 trillion o The #1 listings venue in the world for natural resources, mining, energy and clean technology companies o The #1 venue for international listings from emerging and growth markets o The #1 listings venue in the world for SMEs with approximately 3,600 combined AIM and TSX Venture Exchange listings providing deep expertise in supporting small-cap and early stage companies
• Breadth of Markets - 20 trading markets / platforms across North America and Europe:
o Cash equities, derivatives, fixed income and energy markets, with enhanced potential to develop new trading products and opportunities, supported by strong regional post-trade operations and information services
• Information Leader - An extensive set of global information, market data and index businesses, offering customers an increased suite of products
• Technology Expertise - A shared technology strategy:
o Market-leading, high-performance, cost-effective cash and derivatives trading and clearing technology applied across the Merged Group
o Efficient marketing and delivery to the global financial services and exchange industries
LSEG-TMX is expected to create substantial value for stakeholders and shareholders, with a robust capital structure from which to capture future growth opportunities:
• Revenue Benefits - Targeting £35 million / C$56 million in year three growing to £100 million / C$160 million annual run-rate revenue benefits in year five from a variety of sources, including facilitation of cross-listings and admissions for customers (subject to regulatory approval), the wider availability of products and services via the Merged Group's enhanced distribution and footprint, and the development of new products
• Cost Synergies - Targeting annual run-rate cost synergies of £35 million / C$56 million by end of year two
• Value Creation - Expected to be accretive to adjusted earnings per share (post-cost synergies) for both LSEG and TMX shareholders in the first full year following completion
Commenting on today's announcement, Chris Gibson-Smith, Chairman of London Stock Exchange Group plc stated:
"We are today announcing the creation of a global leader in the exchange space. Building on our own shared long histories of excellence in capital markets, financial strength and cultures of internationally respected governance, I believe that together we will be able to offer shareholders and customers a business significantly greater than the sum of our parts. This merger comes at a hugely important time in the history of capital markets."
Wayne Fox, Chairman of TMX Group Inc. added:
"Two highly successful and profitable institutions are joining forces to create a more diversified and international company. This merger of equals will benefit shareholders, issuers, customers, employees and other stakeholders of both organisations. As important, it will have a positive impact on the business communities in Canada, the UK and Italy. I look forward to working with my fellow directors and the combined team to create one of the world's leading exchange groups."
The Board of the Merged Group will consist of fifteen directors, eight to be nominated by LSEG (of which it is envisaged three will be from Borsa Italiana), and seven to be nominated by TMX. Wayne Fox will be the non-executive Chairman of the Board of the Merged Group, and Chris Gibson-Smith and Paolo Scaroni will be Deputy Chairmen. Chris Gibson-Smith remains as Chairman of London Stock Exchange plc.
The executive Board members of LSEG-TMX will be:
• CEO - Xavier Rolet, CEO of LSEG (based in London) • President - Thomas Kloet, CEO of TMX (based in Toronto) • CFO - Michael Ptasznik, CFO of TMX (based in Toronto) • Director - Raffaele Jerusalmi, CEO of Borsa Italiana (based in Milan)
The executive management and senior leadership of the Merged Group will be drawn from a balance of leaders from both organisations and will be represented in its joint headquarters of London and Toronto as well as other core centres, including Calgary, Colombo, Milan, Montreal, Rome and Vancouver. Based in Toronto, the President, reporting to the CEO, will manage the Merged Group's business units, as well as drive the implementation of strategy, mergers & acquisitions, partnerships and strategic ventures.
The merger recognises the existing centres of excellence within the Merged Group and reinforces these strengths by assigning global responsibility across its geographic footprint, with global leadership in: Toronto for primary markets (listings and other issuer services across the Merged Group); Montreal for derivatives; and Calgary for energy. London will continue as a key centre for international listings with global responsibility for technology solutions, information services and post-trade services. For its part, Milan will be the centre for fixed income and equities trading, and European post-trade. Montreal, Toronto, Milan and Colombo will remain centres of excellence in the development of technology for the Merged Group and for the expanding external technology services business.
Xavier Rolet, CEO of London Stock Exchange Group plc said:
"This is an incredibly exciting merger with considerable growth opportunities. We are creating the world's largest listings venue for the commodities, energy and natural resources sectors, as well as the premium market for small, mid-size and growth companies. This new international leader, marrying the right cost structure, financial strength, technological expertise and product portfolio, will be strongly positioned to capitalise on growth opportunities in emerging markets and deliver them to our customers in North America, Europe and beyond. Together, we will also be uniquely positioned to offer high-performance, low-cost technology solutions to our exchange clients around the world. We are aiming at nothing less than becoming a true powerhouse in the global exchange business."
Thomas Kloet, CEO of TMX Group Inc. added the following:
"We are creating an international group with deep expertise, undeniable leadership in key sectors and the ability to compete and win on the global stage. Canadian customers will benefit from access to one of the world's deepest capital pools while European issuers will have an effective gateway to North American financial markets. With some of the most valuable and respected brands in the exchange world, this merger will open new growth opportunities for each of our businesses and all of our stakeholders. This merger brings together talented market professionals across a wide geography, positioning the group for continued leadership in financial markets."
LSEG-TMX will operate a broad and highly diversified portfolio of successful businesses and brands across multiple geographies, providing trading and post-trade services in cash equities, derivatives, energy and fixed income, and offering global information services and technology solutions. In addition, with access across the company to the cutting-edge SOLA derivatives trading platform and MillenniumIT assets, the Merged Group will offer the marketplace best-in-class capabilities and applications as well as a strong and efficient platform through which to market technology to the global exchange and financial services industries.
Under the terms of the Merger Agreement, TMX shareholders will receive 2.9963 LSEG ordinary shares for each TMX share. LSEG shareholders will therefore own 55% and TMX shareholders will own 45% of the enlarged share capital of LSEG, the holding company of the Merged Group, which will be renamed after closing. The Merged Group will be listed on both the London Stock Exchange and the Toronto Stock Exchange. The various operating exchanges in the Merged Group will continue under their existing recognised brand names.
For the last twelve months ended 30 September 2010, LSEG reported revenues of £633 million / C$1,027 million2, whereas for the last twelve months ended 31 December 2010 TMX reported revenues, adjusted for differences between LSEG and TMX in the accounting treatment of initial and additional listing fees billed, of £394 million / C$626 million. For the same periods, LSEG reported cash generated from operations of £340 million / C$551 million and TMX reported cash flows from operating activities of £176 million / C$280 million.
Completion of the merger is subject to customary regulatory and other approvals, including approval by LSEG and TMX shareholders and court approval in Ontario. Each of LSEG's and TMX's markets will continue to be regulated in accordance with local requirements by their existing regulators. Provisions made to satisfy the requirements of the Investment Canada Act as well as Canadian provincial securities regulators will be made public.
 See "Accounting Matters."  TMX revenue adjusted for initial and additional listing fees billed. See "Accounting Matters". LSEG revenue includes net treasury income from CCP and Other income
To view the full announcement please click here NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
Johannesburg and Colombo 3 February 2011 – Today the Johannesburg Stock Exchange (JSE) announced that it has concluded a licensing agreement with technology solutions provider MillenniumIT to move its equity market trading activity onto Millennium Exchange™. The migration is planned for the first half of 2012 and it is expected that JSE members will benefit from executing transactions almost 400 times faster than the present trading solution.
The agreement will also see the JSE’s trading system relocated from London to Johannesburg, enhancing operational efficiencies and ensuring trading optimisation for market participants.
Leanne Parsons, JSE Chief Operating Officer and Head of the Equity Market comments on the agreement: “We are excited about working with MillenniumIT and providing benefits to our market using their technology solutions”.
Parsons is confident that the adoption of the new trading system will increase the equity volumes traded on the JSE and therefore liquidity: "In our experience, whenever we take a step forward with our trading technology, trading volumes also follow. If we want to remain a world-class and relevant exchange in a highly competitive industry, we must remain abreast of technological advances."
Trading volumes increased significantly when the JSE adopted trading platform JSE SETS in 2002, and climbed again when the exchange moved to the present trading platform JSE TradElect in 2007. JSE TradElect is licensed from the London Stock Exchange, with the London bourse maintaining and operating the platform under the current technology services agreement with the JSE. Parsons adds that the adoption of Millennium Exchange could potentially have a significant impact on trading volumes by attracting a greater share of high frequency trading. "There is much anecdotal evidence to suggest that when exchanges increase their trading speeds they also boost levels of high frequency trading. This is important in order to deepen a market," adds Parsons.
MillenniumIT, which has over a decade of experience in building technology solutions for the capital markets, is headquartered in Colombo, Sri Lanka and is a wholly-owned subsidiary of the London Stock Exchange Group (LSEG). Millennium Exchange is the company's flagship product used by ten exchanges and other execution venues worldwide and is known for its speed and scalability. "Millennium Exchange is a next generation trading platform that offers ultra fast order processing capabilities, providing users with a trading experience that is amongst the fastest, most reliable and technologically advanced in the world," comments Tony Weeresinghe, CEO of MillenniumIT and Director of Global Development at the LSEG.
Speed is becoming increasingly important in the exchange industry as exchanges cope with the rapid rise of high-frequency trading. Those exchanges that have trading systems with the lowest latency – the time between when an order is received, processed and acknowledgement sent – will retain and grow market share. "Low latency trading systems with latencies in the microseconds will soon become a commodity," adds Weeresinghe.
Parsons explains that one of the reasons for the decision to relocate the trading engine to Johannesburg was for the increased operational stability that this move would offer. "The handful of incidents that we have had requiring the equity market to be halted, with reputational impacts, have been related to our international connectivity links. By moving the engine to Johannesburg, we eliminate this problem and are able to offer our clients improved service availability and stability."
The move will mean that the JSE will manage and operate the trading engine itself. Parsons adds that operational costs will remain roughly the same. While not willing to disclose the value of the agreement, she comments that the structure of the deal allows the JSE to aggressively grow trading volumes without incrementally increasing trading software costs.
The move also offers significant benefits for the JSE itself and opens up a new potential revenue stream for the exchange by offering JSE members co-location services. Co-location allows trading firms to place their computer servers near an exchange’s matching engine to cut the time it takes for messages to be sent to and from the trading engine – thus shaving microseconds off trading times and reducing bandwidth requirements. Many exchanges worldwide currently earn revenue from renting out computer space in co-location centres. The move of the trading system to Johannesburg has been welcomed by market participants and will give JSE members faster trade executions.
London Stock Exchange Group plc (the “Group”) today reports results for
the financial year ended 31 March 2010. Financial Headlines: •
Total income of £628.3 million (2009: £671.4 million) – with good
performance in Italian cash equities and fixed income trading, as well
as the Post Trade and Information & Technology divisions, reflecting
breadth of business; revenue excluding net interest income through CCP
businesses and other income was £605.6 million (2009: £644.7 million) •
Continued focus on cost reduction - organic cost base down eight per
cent at constant currency before acquisition impairment and
amortisation, and exceptional items (and excluding one-off costs of
£25.3 million taken in relation to TradElect replacement by
MillenniumIT) • Adjusted operating profit (before acquisition
impairment and amortisation, and exceptional items) of £280.3 million
(2009: £340.7 million); or £305.6 million excluding one-off TradElect
replacement costs; statutory operating profit of £182.3 million (2009:
loss of £207.9 million) • Adjusted basic earnings per share of 60.1
pence (2009: 74.2 pence), including a 6.8 pence per share reduction for
the one-off TradElect replacement costs • Total dividend for the year
maintained at 24.4 pence per share • Net cash flow from operations
after exceptional items remained strong at £301.2 million (2009: £352.6
million) Strategic Highlights • Number of actions taken in a short
period to strategically re-position the Group to develop opportunities
and meet challenges, including: strengthening of management team with
experienced capital markets and technology specialists; continuation of
cost reduction programme including a 13 per cent headcount reduction;
reduction of external post trade costs and our own tariff adjustments to
encourage new business in equities and derivatives • Acquisition of
Turquoise to develop pan-European lit and dark pool trading services in a
joint venture with 12 leading banking clients • MillenniumIT, an
innovative software development company based in Sri Lanka, acquired to
provide new, low cost, high performance trading technology to the Group,
as well as other capital markets clients Operational Highlights: •
The Group again underlined its fundamental capital raising role with
£77 billion raised by companies on our markets, the second highest
annual amount (2009: a record £106 billion), with a 20 per cent increase
in admission fee income and an accelerating rate of new issues in H2 •
Good performances in Italian cash equities and fixed income trading
(the latter reflecting 31 per cent growth in value traded on MTS) with
revenues up seven per cent (constant currency) in both businesses •
Good overall performance from Post Trade Services – increased revenues
in settlement and custody, and growth in clearing transaction volumes
(up 4 per cent) although offset by reduction in non transaction revenues
compared to unusually high levels of volatility last year • Demand
for real time data in H2 remained generally robust, with 93,000
professional users of LSE information at year-end, down just 1,000 since
H1; and broadly unchanged in Italy over the same period with 142,000
professional users • Good growth from non real time data businesses,
with revenues up 10 per cent, reflecting growing contributions from
SEDOL, UnaVista, FTSE and Proquote; and Technology services up 37 per
cent, including first time contribution from MillenniumIT •
Continuing focus on operational cost efficiencies with elimination of a
further 50 roles, partly through natural attrition Commenting on the
results, Chris Gibson-Smith, Chairman of London Stock Exchange Group,
said: “The market, economic and regulatory environment in which our
business operates is going through a period of significant change. We
continue to take steps to ensure the business remains central to capital
markets, competing for business as an efficient, low cost and client
focused organisation with a clear strategy to deliver growth and value.” Xavier
Rolet, Chief Executive, said: “We have made very good progress to
get in shape, to leverage our assets and develop the opportunities, and
the acquisitions of MillenniumIT and Turquoise help us in many regards.
We recognise that there remains much work to be done and that, in many
cases, the fruits of our labour to date have yet to be harvested. “In
the coming year, as we continue to deliver on the key elements of our
strategy within a fluid market and regulatory environment, we expect to
see further progress across our business.”
Egypt, Sri Lanka - April 2010: MillenniumIT (UK), a leading technology solutions provider and part of the London Stock Exchange Group, and the Egyptian Exchange (EGX), announced today that they have entered into a partnership agreement.
Under the agreement, MillenniumIT, which has over a decade of experience in building technology solutions for the capital markets, will provide EGX with a state-of-the-art Trading Surveillance System (TSS). Built around an evolutionary architecture, TSS will help the EGX effectively maintain an orderly market in today’s fast paced, electronic trading environment. This software will enable the EGX to proactively, accurately and rapidly identify abusive behaviour and conduct further investigations to ensure a fair, efficient and transparent market for all participants.
Tony Weeresinghe, CEO of MillenniumIT said, ‘We are very pleased to be partnering with the EGX, one of the oldest exchanges in the region and the world. To effectively oversee its markets, the EGX must employ a surveillance system that is not only capable of rapidly recognizing abnormal trading patterns but is also able to support further investigation of such behaviour, while easily adapting to the changes taking place in the market – demands that Millennium Surveillance™ is perfectly suited to meet.’
Maged Shawky, Executive Chairman of the Egyptian Exchange said:
“Strongly committed to market integrity, we are pleased to partner with MilleniumIT, which will provide EGX with a proactive, international best practice surveillance system. We are confident this system will be an important asset to EGX in fulfilling its vision of providing an equitable, transparent and high quality market place. MillenniumIT has a proven track record in technology solutions for capital markets and we look forward to reaping the rewards of a cutting-edge surveillance system, that can meet the Egyptian market’s future needs and ensure EGX prominence in regulation”.
London, New York, Singapore 25 March 2010: Tullett Prebon, one of the
world’s leading inter-dealer brokers (IDB), and MillenniumIT, a leading
technology solutions provider and part of London Stock Exchange Group,
announce that they have entered into a partnership agreement.
the agreement MillenniumIT will work with Tullett Prebon to further
develop the IDB’s electronic broking capabilities across a variety of
asset classes for both internal and external trading systems.
Humphrey, CEO of Tullett Prebon Electronic Broking & Information,
“MillenniumIT are industry leaders supplying robust and
efficient electronic trading platforms. This partnership marks a
significant milestone in Tullett Prebon’s ambitions to supply client
orientated hybrid solutions to compliment our current global electronic
Tullett Prebon’s strategy leverages and enhances the
group’s significant IDB voice franchise with client focused and
innovative technology delivery. This partnership demonstrates that
Tullett Prebon will continue to invest in our electronic broking
capability to ensure we provide a competitive service to our wholesale
Tony Weeresinghe, CEO of MillenniumIT, said:
are delighted to be partnering with Tullett Prebon, one of the world’s
leading interdealer brokers, to help them further develop their
electronic broking capabilities. With nearly 15 years of experience of
providing solutions to some of the largest players in the global capital
markets industry, MillenniumIT has a track record of delivering
innovative, scalable trading solutions for firms who need to be at the
cutting edge of technology, and we look forward to working with Tullett
Prebon to help them deliver the services their clients demand.’’
For further information please contact:
Prebon – International Media Charlotte Kirkham M:Communications +44
(0)20 7920 2331 or +44 (0)7989 528421 firstname.lastname@example.org
(www.tullettprebon.com) is one of the world’s largest inter-dealer
brokers and operates as an intermediary in wholesale financial markets
facilitating the trading activities of its clients, in particular
commercial and investment banks. The business now covers seven major
product groups: Volatility, Rates, Non Banking & Sterling Cash,
Treasury, Energy, Credit, Environmental and Equities. Tullett Prebon
Electronic Broking offers electronic solutions to these products.
addition to its brokerage services, Tullett Prebon offers a variety of
market information services through its IDB Market Data division,
Tullett Prebon Information.
Tullett Prebon has its principal
offices in London, New Jersey, Hong Kong, Singapore and Tokyo, with
other offices, joint ventures and affiliates in Bahrain, Bangkok,
Calgary, Frankfurt, Jakarta, Luxembourg, Manila, Mumbai, Paris, Salt
Lake City, Seoul, Shanghai, Sydney, Toronto, Warsaw and Zurich.
Part of the London Stock Exchange Group,
MillenniumIT 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.
Stock Exchange Group plc (LSEG) has completed its acquisition of Turquoise
Trading Limited (Turquoise), paving the way for the creation of a new
pan-European trading venture through a merger of the businesses of Turquoise
and Baikal Global Limited (Baikal).
venture, which will continue to trade under the Turquoise name, aims to drive
European trading volume growth and promote venue choice. It will benefit from
synergies with LSEG infrastructure and the planned migration to MillenniumIT
Lester has been appointed CEO of Turquoise, in addition to his role as Director
of Information Services for London Stock Exchange Group.
Commenting on the completion, he said:
am really looking forward to working with the Turquoise and Baikal teams, and
with clients, to build a successful pan-European trading business. Working in
partnership with a number of major global banking firms, we have a tremendous
opportunity to offer an attractive range of highly relevant and competitively
priced products and services across Europe.
European marketplace for trading securities has significant scope to become
more efficient and to grow in the coming years. Turquoise’s existing
pan-European footprint is a strong proposition and together with the
introduction of new trading technology, strong governance and a neutral
structure, we believe we are well positioned to innovate and build market
completion of the transaction, John Wilson, CEO of Baikal has decided to leave
the company to pursue a new challenge. John leaves with LSEG’s best
wishes and gratitude for his leadership of Baikal over the past two years.
Lederman is stepping aside from his role as Turquoise Chief
Executive. LSEG will build on the business he has been integral to
London Stock Exchange Group plc (LSEG) and Turquoise Trading Limited (Turquoise) announced their agreement to create a new pan-European trading venture through a merger of the businesses of Turquoise and Baikal Global Limited (Baikal).
The new venture, an FSA regulated Multilateral Trading Facility (MTF), will expand LSEG services across Europe in both lit and dark trading, and liquidity aggregation, with the express objective of driving European trading volume growth and promoting venue choice. It will benefit from synergies with LSEG infrastructure and the planned migration to MillenniumIT trading technology.
Continuing to trade under the Turquoise name, the merged entity will be 60 per cent owned by LSEG and 40 per cent owned by the existing Turquoise shareholders, who are global investment banking clients of LSEG. LSEG intends to broaden equity participation in the new venture by selling up to a further nine per cent of the issued share capital to other interested parties. LSEG will retain a majority shareholding in the new venture.
As a neutral venue, Turquoise will be open to all market participants active in Europe and will be designed to inspire the confidence of the region’s regulators. Exchange operated, the new venture will build upon Turquoise’s existing pan-European lit order book and successful dark pool, as well as drawing upon Baikal’s innovative product pipeline.
Commenting on the agreement, Xavier Rolet, CEO of LSEG and Chairman-designate of the new venture, said:
"We are very pleased to be joining forces with a number of our major clients in a partnership which we believe will offer an attractive range of innovative and competitively priced products and services across Europe.
"The European marketplace for trading securities has scope to become more efficient and to grow significantly in the coming years. Turquoise’s existing pan-European footprint is a strong proposition and together with the introduction of new trading technology and a neutral structure, we believe it is now well positioned to be an agent of change and to capture a healthy slice of the market's growth potential."
Eli Lederman, CEO of Turquoise, added:
"Our partnership with London Stock Exchange Group is an important transaction for the next stage of Turquoise's development. In our first 18 months of operation we have achieved a pan-European footprint in both lit and dark trading. With the support of London Stock Exchange Group we will be able to simplify our operational structure, attract a wider network and expand the platform's product base."
Phil Hylander, Head of Principal Strategic Investments at Goldman Sachs, said:
“The renewal of a partnership with the London Stock Exchange is a major step forward in the evolution of pan-European market structure. It is of fundamental importance that ventures such as Turquoise, which are critical for competition, are allowed to survive and flourish.
"The injection of technology, brand, and experience that Turquoise will get from the London Stock Exchange, increases the likelihood of real, lasting competition in a marketplace characterised by established local players. In addition, it provides a platform for innovation outside of the traditional cash equity markets.”
Stephen McGoldrick, Director, Market Infrastructure at Deutsche Bank, said:
"This is an important step in the evolution of the European equities market and the ongoing drive towards lowering the cost of trading, which has been Turquoise’s goal since inception. We are pleased to be involved."
Simon Hogan, Morgan Stanley's Chief Operating Officer for Sales and Trading in Europe, said:
“Combining the operational expertise and MillenniumIT platform of the LSEG with the market structure insights of a number of the largest European trading participants creates a dynamic and powerful partnership with every chance of success in the European equity market and other asset classes."
LSEG will fully fund the cash needs of the new venture within an agreed framework for the first 24 months from completion and intends to bring the business to sustainable profitability For the year ended 31 December 2008, Turquoise’s losses before tax were £15.7 million and its gross assets at 31 December 2008 were £11.0 million. LSEG will incur exceptional costs of up to £20 million in the current financial year, comprising the write off of legacy technology costs, and provisions for restructuring and integration costs, including contract exit costs. Significant cost savings are expected to be achieved by merging Baikal and Turquoise. The transaction is expected to be dilutive in terms of adjusted earnings per share in FY 2011 while the Turquoise and Baikal businesses are combined and developed, and positive from FY 2012.
The transaction will be effected through the acquisition by a newly-incorporated subsidiary of LSEG of the existing Turquoise shareholders’ interest in Turquoise. In consideration for the transaction, the existing Turquoise shareholders will receive 40 per cent of the issued share capital in the new company which will also become the holding company of Baikal. The transaction is expected to complete mid-February 2010, subject to satisfaction of all conditions to the agreement (including the receipt of all necessary regulatory clearances).
Turquoise will continue to be regulated by the FSA as an MTF under MiFID.
London Stock Exchange Group plc (‘the Group’) announced today it has completed its acquisition of MillenniumIT. The transaction will provide the Group with a new, high performance trading platform and an agile, efficient, in-house IT development capability and give MillenniumIT the backing it needs to enable it to develop further its global exchange technology business.
To mark the completion, Xavier Rolet, Chief Executive of London Stock Exchange Group is visiting MillenniumIT’s Corporate Headquarters and Software Development campus in Colombo. As part of his trip, Xavier will meet with local dignitaries and senior representatives of leading Sri Lankan companies.
Commenting on the completion, Xavier Rolet said:
“MillenniumIT will transform our in-house IT development capabilities by giving us proprietary ownership of our technology, allowing us to be more responsive to our clients’ needs, delivering enhancements and innovations more quickly, and at lower cost.
“This deal, made on the basis of MillenniumIT’s track record, business model and the growth potential it offers the Group, is a tribute to Tony and his team of technology experts. I am delighted to be here in Sri Lanka today to personally welcome them to the Group”.
Tony Weeresinghe, CEO of MillenniumIT, said:
“MillenniumIT looks set for an exciting future as part of the Group. We intend to leverage the Group’s strong global franchise to further develop our global exchange technology sales business, continuing to support our existing customers, as well as expanding the company into other markets and investing for the future.”
The Group will begin migrating clients to MillenniumIT’s trading system, replacing TradElect, Infolect, and other interfaces. The new platform will allow the Group to enrich its functionality and reduce IT development and operational costs, resulting in estimated annual savings of at least £10 million from FY2011-12.
IT to provide VeriSign® SSL Certificates to support the
growing needs of Sri Lanka’s online businesses
- VeriSign, Inc. (NASDAQ: VRSN), the trusted provider of Internet
infrastructure services for the networked world, today announced its reseller
partnership with Sri Lanka’s premier technology solutions provider, Millennium
Information Technologies Ltd (MillenniumIT), to provide businesses in Sri Lanka
with comprehensive and secure e-commerce solutions. Under the terms of the
agreement, MillenniumIT will provide customers across Sri Lanka with VeriSign®
Secure Sockets Layer (SSL) Certificates to help protect e-commerce interactions
partnership makes MillenniumIT the first authorised Sri Lankan reseller partner
of VeriSignSSL Certificates. The partnership will also significantly
reduce the cost of purchasing SSL Certificates for businesses in Sri Lanka. The
accessibility of VeriSignSSL Certificates directly within the country
will also make it easier for Sri Lankan companies to provide the highest
standard of online security for their local and foreign clientele.
the growing Internet penetration in Sri Lanka, there is a growing need for a
secure Web environment where users can feel assured their online transactions
are safe,” said Dr. Shekhar Kirani, Country Manager, VeriSign India. “The
partnership with MillenniumIT will help establish this higher degree of trust
by providing a safer online experience. We are pleased to join hands with a
reseller partner who shares our security vision and has the capability to
deliver effectively to the market.”
recently achieved the milestone of issuing more than 4 million SSL Certificates
to businesses globally. The company has deployed more than 12,000 EV SSL
Certificates, making VeriSign the market leader with a 74 percent share of the
EV SSL market. And every day, VeriSign conducts up to 1 billion Online
Certificate Status Protocol (OCSP) checks – the most timely and efficient way
for Web browsers to determine whether an SSL or user certificate is still valid
or has been revoked and a key indicator of secure sessions initiated using
VeriSign SSL Certificates.
security and the need for protection of confidential data is imperative for
businesses that thrive in the online medium,” said Rahal Jayawardene, Head of
Security Business at Millennium Information Technologies Ltd. By offering
market leading VeriSign technology at an affordable price to Sri Lanka, we will
have the opportunity to establish practices that offer the safest possible
experience to Web users.”
SSL Certificates complement MillenniumIT’s technology solutions services,
particularly, its focus on IT architecture. The Information Security division
of MillenniumIT is a dedicated technology unit specializing in all aspects of
Information Security, especially for the financial and telecom sector.
“The strength of the VeriSign brand complemented by
our strong presence in Sri Lanka’s IT industry will help to drive awareness
about online security and the application of SSL encryption for online
businesses across the country,” added Mr. Jayawardene.
Millennium IT announced today that it has completed the requirements necessary to offer Cisco WebEx collaboration solutions. The Cisco WebEx Authorized Program allows qualified Cisco partners to extend their collaboration offerings with the addition of on-demand solutions.
Cisco WebEx solutions bring people and information together to speed the decision-making process and to accelerate innovation. The applications are delivered as software as a service (SaaS), helping to enable greater business productivity and faster responses to market changes while taking advantage of the Cisco WebEx Collaboration Cloud to provide highly secure, reliable, high-quality collaborative experiences.
“WebEx has revolutionised how businesses are conducted today! Organisations can collaborate with remote teams, organise live events and train teams virtually without having to travel. WebEx is a great fit for organizations of all sizes and across verticals,” said Mr Faiq Faaiz, Executive Vice President, MillenniumIT.
"Cisco WebEx solutions, a key component of Cisco's collaboration portfolio, changes the entire realm of communications and collaboration,” said Chris Jones, director of the Cisco Collaboration Software Group. “As a Cisco WebEx Authorised Partner, Millennium IT has made an investment to offer customers solutions that connect entire business ecosystems, drive costs out of existing business processes, and lead them on the path of business transformation.”
MillenniumIT, an existing reseller of Cisco networking products will now sell WebEx suite of solutions. With a proven track record of promoting its customers’ success and of using the transformative nature of collaboration solutions, MillenniumIT is in a position to make recommendations on high-impact Cisco WebEx solutions.
Brings broad range of IT development expertise within the Group, increasing its ability to innovate
Provides Group with new, high performance trading platform
Creates new revenue stream for Group; will provide MillenniumIT with backing to develop its business further
Generates at least £10 million per annum of transaction-related cost savings from FY2011-12
London Stock Exchange Group plc (‘the Group’) has today agreed to acquire MillenniumIT, a Sri Lankan-based technology services company serving the capital markets industry.
MillenniumIT’s high performance technology will provide the Group with a highly scalable and very low latency in-house developed trading system with multi-asset class functionality and quicker time to market. In addition, the transaction will give MillenniumIT the backing of the Group to enable it to develop further its global exchange technology business.
MillenniumIT will retain its culture of innovation and creativity, build on its commercial operations and continue serving its existing clients, with its CEO, Tony Weeresinghe, reporting directly to Xavier Rolet.
Xavier Rolet, Chief Executive of London Stock Exchange Group, said:
“Improving our technology and increasing our competitive position in the fast-moving trading environment is vital. This transaction enables the Group to implement a new, more agile, innovative and efficient IT capability for our future business development as well as running a new cash trading platform which will provide substantially lower latency, significantly higher capacity and improved scalability.
“It will also offer cost saving opportunities in the future and give the Group a footprint in Asia. Moreover, MillenniumIT is a proven business, already serving multiple clients in multiple geographies, including some of the best known in their fields. The potential from this transaction is considerable for both parties.”
Tony Weeresinghe, CEO of MillenniumIT, said: “This transaction with London Stock Exchange Group is a tribute to the innovative culture of our company, the quality of our technology solutions and our deep pool of talented staff. The Group’s backing gives us the resources to continue supporting our existing customers, expanding the company into other markets and investing for the future.”
David Lester, Director of Information and Technology, London Stock Exchange Group, said: “MillenniumIT are a leader in developing low cost high performance trading platforms and financial markets software. Going forward, they will be the Group’s in-house software development team, gradually replacing our current suppliers and bringing intellectual know how and properties fully within the company. We are excited that by the end of 2010 their proven trading platform will provide our clients with sub-millisecond trading latencies, giving the Group a very fast, multi-product, cost efficient scalable trading platform. The transition will be carefully managed, with further enhancements to TradElect planned in the interim.”
The Group will begin migrating clients to MillenniumIT’s trading system from the end of 2010, replacing TradElect, Infolect, and other interfaces. The new platform will allow the Group to enrich its functionality, in particular for Italian clients, with the possibility of accommodating both trading after hours and stop loss orders.
IT development and operational costs for the Group will be reduced, resulting in estimated annual cost savings of at least £10 million from FY2011-12.
Depreciation of investment in the current TradElect trading platform will be accelerated as a result of the transaction, and further planned upgrades that take place in the interim will be taken as operating expenses in the period they occur. In total, these are expected to represent non-recurring incremental costs of [£25 million in FY2010].
Under the terms of the Offer, the Group has offered to acquire 100 per cent of MillenniumIT’s shares for cash consideration with a share alternative. It is estimated that  per cent of the total deal consideration will be paid in cash, with the rest in new LSEG shares to be issued.
The Group has already received irrevocable undertakings representing [over 90 per cent] of the shares in MillenniumIT.
The transaction is expected to complete by mid October 2009, subject to satisfaction of all conditions to the Offer and receipt of all necessary clearances.
Millennium Information Technologies (MillenniumIT) unveiled a revolutionary new release of its trading platform this week. It possesses ultra fast order processing capabilities, making it the world's fastest trading platform. During the project, MillenniumIT collaborated with Intel Corporation to achieve a 130 micro second order latency using the Intel® Xeon® 5500 processors. These tests were conducted at Intel’s fasterLAB facility near London UK.
Today, Exchanges must cope with the rapid rise in volumes of high-frequency trading. In the US, trading volumes attributable to high-frequency trading have grown to 73% from 40% a year ago. This means that Exchanges having trading systems with the lowest latency - the time between when an order is received, processed and an acknowledgement sent - will retain and grow market share.
Traditional approaches to trading system design cannot deliver the required extreme low latency and high volumes at commercially viable cost points. MillenniumIT’s unique rule-based event processing pipeline enabled the system to be deployed and run on inexpensive volume-produced two socket servers, far surpassing the performance of traditional trading systems.
"We registered a 130 micro second order latency in the first benchmark run, and expect this figure to drop by another 40 micro seconds when the final platform specific tuning is done” said Ajit Samaranayake, Chief Scientist at MillenniumIT. The latency measurements were conducted using a day’s orders and trading rules from a tier 1 stock exchange.
Nigel Woodward, Global Director Financial Services at Intel, comments “, Working to optimize latency performance in the venue space is a natural extension of our lab-based work to date around sell-side functions,” Woodward said “Our engineers worked closely to ensure that the features of the processor could be utilized by Millennium software . The results coming out of this iterative activity prove the importance of this technical collaboration where we have worked with the highly threaded code across multi-core processors to achieve both latency and throughput. We are excited by the prospect of working with Millennium to take this area of the trade life cycle market to a new point in price performance – contributing to the paradigm shift in the technology strategies that have been deployed in this area to date.”
The ability to process 1 million orders/second using volume produced Intel 2 socket Nehalem servers in a full fault tolerant configuration is now a commercial reality at a very affordable price point.
“Low Latency trading systems with latencies in the microseconds will soon become a commodity”, says Tony Weeresinghe the CEO of MillenniumIT. The key to success of exchanges in the future are not only faster trading but also having the flexibility to respond to market demand with new order types and products. This, together with a lower operational cost base will help exchanges to stay ahead of their competition. “This is where MillenniumIT differentiates itself. We achieved this low latency with a software-only solution, without hardware acceleration” says Weeresinghe.
With its patented BID tool which facilitates rapid changes to business rules, exchanges can adapt swiftly to changing market conditions. “The goal is to get the latencies under 100 micro seconds” stated Weeresinghe. He also mentioned that Intel and MillenniumIT will keep this low-latency facility available to any exchange or high frequency trading house to perform their benchmarks.
Mr Faiq Faaiz, Executive Vice President of MillenniumIT,with the CEO/Chairman of Cisco Systems, Mr John Chambers, during an exclusiveExecutive Exchange session at the ‘CiscoPartner Summit 2009 in Boston.
This year too, Sri Lanka’s MillenniumITparticipated in the prestigious Cisco Partner Summit organised by Cisco Systems, the global leader in networking equipment and network management for the Internet.
The Cisco Partner Summit2009 was held in Boston, USAfrom June 2 – 4. The Summit provided an opportunity to interact with Cisco executives and otherCisco partners from all over the world.
The 2009 Summit was also a further step in the direction of enhancing cooperation between Cisco Systems and MillenniumIT. The Cisco Partner Summit 2009, allowed MillenniumIT to strengthen direct links with the global leader and to gain a stronger understanding of Cisco’s latest products and services.
“Participation in the Summit shows our commitment to a long term relationshipwith Cisco Systems and our commitment to deliver the highest standard of services to Cisco clients in Sri Lanka. The Summit also provided a better understanding on how to deliver the latest Cisco products and services in Sri Lanka and on aligning ourselves with the Cisco product road map,” said Faiq Faaiz, Executive Vice President of MillenniumIT.
Earlier this year MillenniumIT archived Cisco’s Advanced Unified Communications (UC) certification, Advanced Data Center Networking Infrastructure (DC) specialization and Cisco’s Advanced Security certification, making MillenniumIT a fully fledged Cisco Systems partner. The Advanced UC, DC and the Advanced Security, certifications are programmes by Cisco Systems that shows a partners investment in gaining the necessary expertise in selling, designing, installing and supporting Cisco’s integrated advanced technology solutions.
MillenniumIT is the only Sri Lankan company to obtain the Cisco Advanced UC, DC and Advanced Security certifications. MillenniumIT also retains a team of over 30 dedicated Cisco certified engineers and maintains routing, switching and unified communications labs in Sri Lanka, making it possible to provide an unparalleled standard of service to Cisco clients in Sri Lanka.
MillenniumIT, a leading system integration company became the first partner in Sri Lanka to obtain both the Cisco® Advanced Unified Communications (UC) and Cisco Advanced Security Certifications recently. The Advanced UC and the Advanced Security Certifications are programs by Cisco, the global leader in networking equipment and network management for the Internet, to acknowledge the partner’s investment in gaining the necessary expertise in selling, designing, installing, and supporting integrated Advanced Technology Solutions, resulting in a better customer experience.
The Cisco Advanced Unified Communications specialization is designed to help channel partners meet a wide range of customer needs—from small to medium- sized businesses all the way up to enterprise-scale organizations—and focuses on IP Communications market opportunities that require advanced product knowledge and the ability to deploy solutions over multiple sites and geographies.
The Cisco Advanced Security Specialization recognizes channel partners for their knowledge and expertise in selling, designing, installing, and supporting comprehensive, integrated network security solutions. The focus of the specialization is on developing sales, technical, and services capabilities that distinguish channel partners by providing integrated, collaborative, and adaptive security solutions
With a team of over 30 dedicated Cisco certified engineers and with Routing and Switching and Unified Communications labs locally, MillenniumIT boasts of probably the best skill set and resources available locally for Cisco technologies.
"Getting the Advanced Unified Communications and Advance Security Certifications is proof of MillenniumIT's long term commitment to its customer base both locally and overseas to build high class skills to support their networking deployments. It also demonstrates that even in testing conditions we will continue to invest to build good sound resources to support our clientele, so that they will always have good local support at any given time." says Gladwyn Georgesz, Head of Networking Business for MillenniumIT.
“MillenniumIT being a Cisco Premier Certified Partner in Sri Lanka has demonstrated their commitment to customers in Sri Lanka and abroad. With this achievement, MillenniumIT will expand their capabilities by bringing these Advanced Technologies to the market place. This will help their customers to increase productivity and lower communication costs whilst at the same time, offering a new customer experience.” Says Rajkumar Natarajan, Vice President – Sales (Sri Lanka region), Cisco India & SAARC.
Sri Lanka securities surveillance system to be built by MillenniumIT
Feb 06, 2009 (LBO)
Sri Lanka has selected Millennium Information Technologies
(MillenniumIT) to develop a sophisticated market surveillance system
for the island's stock exchange, a top official said.
"We have selected MillenniumIT to design and implement the
surveillance system," Channa de Silva, director general of the
Securities and Exchange Commission told LBO.
"We are currently waiting for final approval from the Treasury, which
should come within two to three weeks. After Treasury approval is
granted the system should be up and running within three to six
The Colombo Stock Exchange (CSE) uses MillenniumIT software for equity trading.
The system will be designed on similar lines to the surveillance system
used by the Indian market regulator, de Silva said.
"In these troubled times investors want properly regulated markets that
are safe to make their investments," said de Silva.
"Higher returns are secondary concerns, integrity is very important for
investors these days."
The Colombo Stock Exchange (CSE) was automated in 1991.
In 1997 MillenniumIT, now based in Boston, USA, developed the first
event-driven trading system for the CSE. This included the central
depository system which does away the need for paper based trading.
2009 – MillenniumIT was awarded the contract for implementing the
technology platform for the Indiabulls Financial Services (IBFSL)
commodity exchange. The exchange, which has now been christened the
International Multi-Commodity Exchange (IMX), has six partners
promoting India’s fourth national commodity bourse and will primarily
engage in commodity derivatives trading.
The exchange has as
its largest shareholder IBFSL, one of the largest brokerages in India
and a part of Indiabulls Group, a highly diversified listed blue-chip
company and MMTC Limited, the largest commodity/metal trading importer
and exporter in India. IMX have now started operationalising the
multi-commodities exchange and one of the first steps in this process
was the appointment of MillenniumIT to set up and implement the
technology platform for IMX.
A spokesman for MillenniumIT
said the company will implement a fully integrated end-to-end solution
for IMX. “We used our unique selling points of flexibility of the
system to adapt to changes in business requirements, superior
performance as well as an entire portfolio of products to present an
end to end solution. This gave us the edge over some leading
international and Indian vendors to win the contract. We also have an
in depth comprehension of the Indian market and hence the ability to
cater to all regulatory and business needs.” The MillenniumIT platform
will include trading, risk management and market surveillance systems,
trader front ends, CCP (Central Counterparty Clearing and Settlement)
and collateral and delivery management.
An official statement
released by Indiabulls says, "The exchange is expected to go live in
the first quarter of the next financial year, subject to regulatory
Initially, the commodity exchange was billed as a
joint venture between IBFSL and MMTC sharing equity of 74% and 26%
respectively. However, revised government guidelines proposed single
shareholder limits to not exceed 40% of the equity, forcing IBFSL to
search for other partners. Trading company India Potash Limited is
among the six partners. The turnover in the commodity market surged 28%
in the last year paving the way for new players to enter the fray.
For more information please contact Shameema Akberally of MillenniumIT on 0777789777
NEW DELHI: Indiabulls Financial Services today said its commodity exchange in partnership with MMTC will go live in the first quarter of next financial year.
"The exchange is expected to go live in the first quarter of next financial year, subject to regulatory approvals," Indiabulls said in a statement.
The exchange, christened as International Multi-Commodity Exchange (IMX), would also have Indian Potash Ltd and a small trading firm among the total of six partners, promoting the country's fourth national commodity bourse.
IBFSL and MMTC have started the process of operationalising the Multi Commodities Exchange and appointed a US-based firm for setting up its technology platform.
The US-based exchange services provider Millennium Information Technology (MIT) has been awarded the contract for implementing the technology platform for the aforesaid exchange, the statement added.
Initially, the commodity exchange was proposed to be a joint venture between Indiabulls and MMTC sharing the equity stake of 74 per cent and 26 per cent, respectively.
However, the revised government guidelines announced on May 14 last year did not allow single shareholder to hold more than 40 per cent equity of the exchange forcing Indiabulls to look for partners for diluting the stake.
The turnover in the commodity market has surged 28 per cent over the year-ago period to Rs 50,33,857 crore, paving way for many new players to enter the fray.
Meanwhile, IBFSL joint venture with Sogecap, the insurance arm of Societe Generale (SocGen) for its life insurance venture, would soon kick start the JV entity as the company expects to finish the licensing process by fourth quarter of FY'09.
The Education Services division of MillenniumESP will be taking part in the EDEX 2009 - National Higher Education & Careers Expo, which will be held on the 23rd, 24th and 25th of January 2009 at the BMICH, Colombo.
During this 3 day Expo, MillenniumESP hopes to promote its Sun Certified Solaris training amongst interested individuals and organizations. All students who register at the stall for any Sun training course will be entitled to a one time special discount of 10%.
Visit us at Stall 29, Hall A, BMICH
For more information please contact Menuka on 2416582 or Sanjeeva on 2416520
Nation’s Trust Bank won the coveted MillenniumIT FSI Challenge Trophy beating Hatton National Bank despite a spirited batting partnership between HNB’s Captain Anush Perera and Shane Fernando. The cricket tournament was held at the MillenniumIT campus grounds in Malabe last week.
NTB’s Manoj Gayan and Thivanka Dabare put on a fine partnership to clinch the trophy after coming into the finals. Manoj Gayan was awarded the "Best Player of the tournament" trophy.
This year, ten financial services institutions took part in the second consecutive FSI Challenge tournament organised by MillenniumIT together with SUN Microsystems. Mr Duhan de Zilwa, Business Head of SUN Microsystems, said that this tournament was the ideal opportunity for them to promote camaraderie with their customers. “We have taken our business to the playing field as sport is an ideal occasion to foster friendships,” he added.
The other contenders at this 8-a-side tournament were, Sampath Bank, People's Bank, PABC Bank, Colombo Stock Exchange, Seylan Bank, DFCC Bank, Hatton National Bank, NDB Bank, Nation's Trust Bank and the National Savings Bank.
Last year’s tournament saw five banks participate and MillenniumIT was defeated by People's Bank who carried away the MillenniumIT FSI Challenge Trophy.
About SUN Microsystems
Sun Microsystems Inc., a leader in the communications industry, offers the broadest family of carrier-grade rack and blade servers and network computing infrastructure solutions that include computer systems, software, storage, and services. Its core brands include the Java technology platform, the Solaris operating system, StorageTek and the UltraSPARC processor. Solaris is the most widely deployed carrier-grade OS in the market
MillenniumESP is a trusted IT architecture company and an industry-leading enterprise and telecom solutions provider. MillenniumESP is an independent business of MillenniumIT, the premier applications solutions provider serving the financial and telecom industries the world over. The Company’s automated trading system, Millennium Exchange, currently powers several stock exchanges and depositories in the United States, Europe, Africa and the Asia-Pacific region. For more information, please visit www.millenniumit.com.