MillenniumIT upgrades e-trading platform

Source: Millennium Information Technologies

Leading capital markets technology provider Millennium Information Technologies (MillenniumIT) announced today that the latest release of Millennium Exchange, its multi-product trading platform, had been measured in performance tests to have latency less than 1 millisecond.

In addition to the sub-millisecond response times, the new release of Millennium Exchange can handle sustained volumes of over 100,000 orders per second, with core latency remaining below 1 millisecond. Moreover, the platform scales evenly, with each increase of 1,000 orders per second typically requiring only $50,000 of hardware.

"Millennium Exchange offers exchanges and alternative execution venues unprecedented levels of performance, scalability and flexibility - it benefits from over a decade of continuous technological innovation, coupled with our experience of powering some of the largest marketplaces in the world", said Tony Weeresinghe, Chief Executive Officer of MillenniumIT.

Millennium Exchange makes use of a host of proprietary innovations including MillenniumIT's patented technology, which provides the capability to add completely new products and trading methodologies to the platform without any change to code. Trading and market data access is provided through established protocols including FIX and FAST. The platform operates on Linux and Solaris; the sub-millisecond latency was observed in tests run on Solaris based SunFire X4600 M2 servers with AMD processors. Current customers of MillenniumIT include the American Stock Exchange and ICAP, the world's largest interdealer broker.

"The upheaval we are seeing today in the exchange industry, both in terms of the surge in transaction speeds and volumes as well as the advent of regulations such as Regulation NMS and MiFID, has shown how crucial it is to have the right technology. Millennium Exchange is the most technologically advanced trading platform available; it's going to be a very exciting time for us", added Mr. Weeresinghe.

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