04 October 2015

Borsa Italiana prepares for weekend switch to MillenniumIT

21 June 2012  |  3952 views  |  0 Stock broker in front of Stock exchange screen

Borsa Italiana is to shut down trading on the TradEelect platform for the final time after markets close Friday, in preparation for a big bang migration to the London Stock Exchange's MillenniumIT trading system.

The Italian Exchange has prepared a roll-forward/rollback plan for migrating the MTA, ETF Plus, MOT, SeDeX Markets from TradElect to MIT Trading scheduled on Monday 25 June.

Initially slated for introduction on 18 June, Borsa Italiana moved the deadline forward in early June to allow time for further testing and consultation with stakeholders.

The London Stock Exchange migrated its UK cash markets to the Linux-based MillenniumIT trading platform in February last year, some five months behind schedule following teething troubles at the already-migrated Turquoise exchange.

In prepping for the switch, Borsa Italiana has prepared a rollback plan that can be set in motion up to three days after the initial changeover in the event of unrecoverable technical problems or outages on MillenniumIT.

"It has the objective to restore full trading functionality on the current TradElect trading platform and on the current software version of MDF/DDM Plus," says the Exchange in a communication to member firms. "Market participants' trading systems and related data must be rolled back accordingly in such event."

The LSE acquired Sri Lanka's MillenniumIT for around £18 million in 2009 as it sought to catch up with nimble, technologically superior competitors such as Chi-X and Bats Europe. It boasts trading speeds of less than a millisecond compared to the 2.7 milliseconds produced by TradElect.

The LSE has since sold the platform to exchanges in Delhi, Oslo and Johannesburg.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

10 November, 2011
14 February, 2011
04 February, 2011
20 October, 2010
05 October, 2010
19 April, 2010
25 March, 2010
02 February, 2010
16 September, 2009
20 May, 2009
08 August, 2007

Related company news

Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
More global banks back blockchain collabor...
10018 views comments | 57 tweets | 49 linkedin
Iran joins fintech revolution
7610 views comments | 20 tweets | 5 linkedin
Banks face choice to collaborate or compet...
7379 views comments | 39 tweets | 45 linkedin
Samsung Pay lands in the US
5891 views comments | 25 tweets | 24 linkedin
Worldpay trials facial recognition technol...
5608 views comments | 21 tweets | 38 linkedin

Featured job

to £90K base, double OTE, share options
London, UK

Find your next job