24 March 2017
visit nextgenbanking.co.uk

LSE signs Delhi Stock Exchange to MillenniumIT platform

10 November 2011  |  6213 views  |  0 handshake

The Delhi Stock Exchange (DSE) has signed for equity, derivatives, FX trading and clearing technology from the LSE's MillenniumIT unit.

The LSE acquired Sri Lanka's MillenniumIT for around £18 million in 2009 to replace its own outdated, slow systems.

The acquisition was also designed to provide a new revenue stream, with the bourse seeking to follow rivals Nyse Euronext and Nasdaq OMX, and hawk the technology to exchanges around the world.

The Delhi deal is MillenniumIT's latest contract win since it was taken over, following contracts with Oslo Børs and the Johannesburg and Mongolian stock exchanges.

Financial details have not been disclosed but according to the Financial Times, citing sources, the LSE could be given the option to take a five per cent stake in its counterpart.

In addition, Hirander Misra, the former Chi-X Europe COO who over the summer quit Algo Technologies, the fintech vendor he helped set up, is in the frame to lead a revamped DSE, says the FT.

Commenting on the contract win, Tony Weeresinghe, CEO, MillenniumIT, says: "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."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

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

Related stories

Plus launches technology arm; calls on Misra for advice

Plus launches technology arm; calls on Misra for advice

07 September 2011  |  7368 views  |  0 comments
Misra quits Algo Technologies

Misra quits Algo Technologies

19 July 2011  |  7707 views  |  0 comments
LSE cash markets make MillenniumIT move

LSE cash markets make MillenniumIT move

14 February 2011  |  9193 views  |  0 comments
LSE signs Johannesburg exchange to MillenniumIT

LSE signs Johannesburg exchange to MillenniumIT

04 February 2011  |  10067 views  |  0 comments
Turquoise trading delayed by MillenniumIT migration

Turquoise trading delayed by MillenniumIT migration

05 October 2010  |  7915 views  |  0 comments
Misra quits as Chi-X COO

Misra quits as Chi-X COO

23 February 2010  |  8660 views  |  1 comments
LSE confirms £18m MillenniumIT deal

LSE confirms £18m MillenniumIT deal

16 September 2009  |  9195 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Participate in the surveyVisit capgemini.comvisit abe-eba.eu

Top topics

Most viewed Most shared
French retailer Carrefour launches online bank accountFrench retailer Carrefour launches online...
44284 views comments | 15 tweets | 35 linkedin
hands typing furiouslyMachine Learning: Lessons for Banks From S...
10436 views 0 | 13 tweets | 12 linkedin
Can banks really win in the payments business of the future? – new Finextra reportCan banks really win in the payments busin...
8208 views comments | 23 tweets | 37 linkedin
Westpac wants to take over your messaging keyboardWestpac wants to take over your messaging...
6804 views comments | 4 tweets | 10 linkedin
European Commission opens public consultation on fintechEuropean Commission opens public consultat...
6656 views comments | 36 tweets | 19 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job