LSE hails TradElect as daily SETS trades breach one million

Source: London Stock Exchange

Member firms of the London Stock Exchange today executed over 1 million trades on SETS, the first time in a single day. The milestone was passed at 15:15 BST and it is estimated that there were 1,262,745 trades over the course of the whole day. The value traded on SETS is estimated to have been £17.2 billion, up from the previous record of £13.5 billion set on 28 February 2007. This new record continues the very strong trading volumes across markets in the past few weeks.

While volatility in the markets is clearly driving much of the trading, the volume of trades seen today would not have been possible without TradElect, the Exchange's new trading platform which was launched in June.

TradElect is the culmination of a four year programme to build the next generation technology at the Exchange, enabling customers to transact more trades in even shorter time-spans. TradElect has increased trading capacity tenfold and improved average roundtrip latency for the customer to around 10 milliseconds.

The next upgrade in November will increase capacity further and reduce latency again to ensure customers continue to receive the best Exchange service in the world.

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