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Turquoise trading delayed by MillenniumIT migration

05 October 2010  |  8072 views  |  0 fibre optic wires

Trading on Turquoise was delayed by around an hour this morning by technical problems, the day after the LSE-owned platform was migrated to a new technology system.

Turquoise was moved over yesterday in a 'big bang' migration from Cinnober technology to a platform supplied by another recent LSE acquisition, MillenniumIT.

However, the platform suffered glitches throughout the day, with the LSE's incident communication Web site reporting that some of Friday's closing prices disseminated in reference data were incorrect.

The problem was fixed but this morning the exchange reported that "technical issues" would force the Turquoise opening to be delayed. Trading eventually started at 9.15am local time, more than an hour late.

The LSE acquired Sri Lanka's MillenniumIT for around £18 million last September after deciding to dump its expensive and relatively slow TradElect platform in a bid to compete with new rivals such as Chi-X and Bats.

The exchange still plans to move over its main market to MillenniumIT on 1 November.

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