Report: London Stock Exchange will move to Linux
According to a report by International Banking Systems Journal, the London Stock Exchange has confirmed that it is replacing its existing Microsoft .NET based TradElect system, supplied and supported by Accenture, with a Linux based system from MillenniumIT. The Sri Lankan company MillenniumIT has been purchased by the LSE for $30M and is core to the LSE's plans. David Lester, director of information and technology at the LSE says "The new technology is a lot lighter, nimbler and easier to install".
According to the report the new platform is not exclusively Linux, but a mix of Linux and Solaris. The LSE plans to migrate both itself and its Italian subsidiary, Borsa, to the new platform. The LSE predicts cost savings of at least £10 million in 2011/2012 when the new platform is running. it is estimated the implementation will take around 18 months. Lester says that the experience with .NET has been "very positive" but that the need for "for more control, less costs, and the ability to build and innovate" motivated the changeover.