London Stock Exchange to improve IT

11:45 5th September 2008

The London Stock Exchange (LSE) is to seriously improve its IT services in a bid to reduce the amount of time is takes to complete a trade.

Following the completion of an upgrade to its TradElect platform, the time taken to complete a trade will go down from six milliseconds to three milliseconds.

According to the Exchange, it is able to take off these milliseconds because the system upgrade gets rid off network latency.

In addition, a server hosting service has also been launched by the LSE for investment banks.

The service will allow banks to transfer their servers into the LSE's own data centre, which is located next to the trading platform of LSE's TradElect.

David Lester, chief information officer at LSE, said: "This new service underlines our commitment to reducing latency at each stage of the trading cycle and facilitating the structural shifts in trading patterns that are driving growth on our markets."

Phase one of the service is now live, with phase two set to go in February next year.

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