London Stock Exchange is switching to Linux
By on January 24th, 2010

The London Stock Exchange began a migration program, a few days ago. According to the program; all the terminals at the London stock Exchange will start using Linux by the end of 2010. The stock exchange made heavy falls in sales data against a small rise in IT revenues. The LSE believes this year is crucial to the exchange and it is gearing up for a technological change.

As a result, they have decided to upgrade to a Linux based trading platform. The MilleniumIT trading platform, a Sri Lankan venture will become the new backbone of the LSE. This system will replace the Microsoft’s .NET based trading platform TradElect. TradElect was upgraded just a few years back by Accenture but still lacks the speed MilleniumIT is going to offer.

TradElect has  had a number of drawbacks like low speed and a history of outages. The London Stock Exchange hopes of new and improved speeds, high performance and efficient in-house IT development capabilities with the new platform.

Xavier Rolet, the chief executive commented on the acquisition of saying, it will be a “good step to enhancing” the trading offers of the LSE.

What the LSE has done here will encourage many more large scale businesses to see Linux as a viable option for their IT and tech needs. It will help project the image of Linux beyond web-servers. Linux has the full capabilities of handling an enterprise. The LSE will simply make people more aware of that fact.

[ Via : Computerworld ]

Author: Chinmoy Kanjilal Google Profile for Chinmoy Kanjilal
Chinmoy Kanjilal is a FOSS enthusiast and evangelist. He is passionate about Android. Security exploits turn him on and he loves to tinker with computer networks. He rants occasionally at Techarraz.com. You can connect with him on Twitter @ckandroid.

Chinmoy Kanjilal has written and can be contacted at chinmoy@techie-buzz.com.

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