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07 February 2011, 14:49

Johannesburg Stock Exchange to move to Linux

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The Johannesburg Stock Exchange (JSE) has announced that it is moving to an all Linux based trading platform when it relocates to Johannesburg. The JSE currently operates out of London and runs on the TradElect platform which is based on Microsoft .Net and SQL Server 2000. It plans to move to MilleniumIT's Millennium Exchange platform by the first half of 2012.

The JSE is following the example set by the London Stock Exchange. That exchange also ran the TradElect platform, but in 2009 began the process of migrating to the Millenium Exchange system using Linux and Solaris based systems. The LSE also purchased the Sri Lanka based developers of Millennium Exchange, MillenniumIT, for $30 million.

Now, the JSE is intending to move back to Johannesburg as part of a plan to avoid international connectivity issues and make the service more available to its South African based clients. It is taking this opportunity to move to Millennium Exchange, though unlike the LSE, The H has been told by a company spokesperson that it will be run purely on Linux systems.

The new system should provide much increased trading speeds, executing transactions almost 400 times faster than the current trading platform. This increase should allow the exchange to grow. "There is much anecdotal evidence to suggest that when exchanges increase their trading speeds they also boost levels of high frequency trading. This is important in order to deepen a market", said Leanne Parsons, JSE's Chief Operating Officer and Head of Equity Markets.

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