London Stock Exchange is switching to Linux

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 ]

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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. You can connect with him on Twitter @ckandroid.