London Stock Exchange dumps Microsoft for Linux

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John Carl Villanueva12 October 2009, 10:48 PM

Buys developer company MilleniumIT for AU$ 32 M to develop its own trading platform.


To save on costs and have total control for future innovations, the London Stock Exchange (LSE) has opted to replace its .NET-based TradElect system with Linux-based MilleniumIT. This is no ordinary shift from one trading application to another though - LSE is actually buying MilleniumIT for £18M (AU$32M).



In the long run, they project to save at least £10M (AU$18M) per year from 2010 (when the system is expected to be in place) to 2012.

Aside from the cost-saving benefits, there are expected performance boosts as well. According to LSE spokesman Alistair Fairbrother, tests on the MilleniumIT system using data from LSE revealed capabilities of achieving sub-millisecond speeds. LSE's current trading speed on the TradElect system is reported to be about 2.7 milliseconds.

The MilleniumIT system, actually a Linux/Solaris hybrid, is "a lot lighter, nimbler and easier to install.", said LSE director for IT David Lester.

Fairbrother has made it clear that "This is not about moving away from Microsoft.NET" as it is about "getting control over our IT department." Not only will LSE have control over future development releases, Lester also expects this move to cut down the waiting time between releases. This move also gives LSE total control over their entire computer system, including desktop clearing & settlement, surveillance, as well as smart order routing.

Before deciding on moving to MilleniumIT, LSE embarked on a four-month selection process that involved 20 different systems.

Because of this new development and a service agreement it signed with LSE last March, Norwegian exchange Oslo Bars, will also have to move to MilleniumIT. Before this deal, Oslo Bars was set to implement TradElect in February 2010. Borsa Italiana, an LSE subsidiary will also have to migrate to Linux.

The LSE-MilleniumIT deal is supposed to be completed this month, October 2009. However, 90% of irrevocable undertakings have already been carried out.

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Raindog (Senior Forumologist):

Fairbrother has made it clear that ...... it is about "getting control over our IT department."

That is going to be a common theme in post GFC technology planning.

13 October 2009, 1:25 AM (1 month ago)report abuse Send to a friend reply

Aubrey (Advanced member):

Quoting Raindog:
Fairbrother has made it clear that ...... it is about "getting control over our IT department."

That is going to be a common theme in post GFC technology planning.


From what I observed in the stairwell at work this morning, I suggest a bucket of cold water.

LSE has been a trend-setter in large IT systems and this is something of a breakthrough for Linux.

It is also interesting that UK, and many European, Government procurement rules also require full consideration of Open Source solutions and contain guidance on how to do genuine whole-of-life costing. Our's are somewhat more lax in that respect (basically, the software rule book contains a tear-out MS order form).


13 October 2009, 1:09 PM (1 month ago)report abuse Send to a friend reply

Tin (Senior Forumologist):

I wonder what the cost to MS is in this... Would it be in the millions?

13 October 2009, 11:43 AM (1 month ago)report abuse Send to a friend reply

DandamanV (User):

Poor Microsoft, this could be the beginning of the end for them.

14 October 2009, 10:01 AM (1 month ago)report abuse Send to a friend reply

Aubrey (Advanced member):

Quoting DandamanV:
Poor Microsoft, this could be the beginning of the end for them.

I hope not. I'm really quite keen on my MS keyboard and mouse.

14 October 2009, 11:37 AM (1 month ago)report abuse Send to a friend reply

The Big Baboo (Advanced Forumologist):

Quoting Aubrey:
I hope not. I'm really quite keen on my MS keyboard and mouse.

Actually "Aubrey" Their hardware is okay,I used to own one of their "Sidewinder" joysticks and I myself have their keyboard and moose.
It's just the software that we seem to have trouble with. Maybe we should phone up Redmond and tell them to change priorities :)

14 October 2009, 12:15 PM (1 month ago)report abuse Send to a friend reply

The Big Baboo (Advanced Forumologist):

Ta-da-dada,ta-da-da-da-da-da-da At the going down of the Microsoft flagship we'll doff our caps and say "It was good while it lasted" but now let's move on and party :)

14 October 2009, 10:26 AM (1 month ago)report abuse Send to a friend reply

Me In Oz (Advanced Forumologist):

OMG! It's the end of Microsoft ..................... Again.

14 October 2009, 11:01 PM (1 month ago)report abuse Send to a friend reply

Tin (Senior Forumologist):

I sure hope for Microsoft's sake that Ballmer and the rest of the buffoons don't think like you do. This change would be a loss of millions of dollars to MS. With other businesses tightening their belts from the "GFC", and with many consumers put off by Vista, MS could be in a lot of trouble.

Don't forget that less than 10 years ago Apple was in a lot of financial troubles. If they hadn't brought out the iPod, they would probably have gone under by now. Big companies with lots of loony followers CAN and DO go bankrupt.

15 October 2009, 11:19 AM (1 month ago)report abuse Send to a friend reply

Me In Oz (Advanced Forumologist):

Quoting Tin:
Big companies with lots of loony followers CAN and DO go bankrupt.

And yet they thrive despite the constant bagging from this looney forum ;-)




15 October 2009, 12:12 PM (1 month ago)report abuse Send to a friend reply

Raindog (Senior Forumologist):

Quoting Me In Oz:
.................................... from this looney forum

As a frequent and hardened participant, you have to be judging yourself as species loon too. Certainly an odd accusation to be making about your own participation? The options available are quite obvious.


15 October 2009, 9:21 PM (1 month ago)report abuse Send to a friend reply

plutonium210 (Advanced member):

Quoting Raindog:
The options available are quite obvious.

I and others have been tempted many times and yet it my duty to keep this forum balanced for the MacTards, and so, with obvious options available, I've decided to stay to keep you guys on the path to enlightenment.

Some of you loonies will take longer than others, of course ;)




16 October 2009, 11:43 AM (1 month ago)report abuse Send to a friend reply

Raindog (Senior Forumologist):

Quoting plutonium210:
I and others have been tempted many times

Many young lads are, but don't over-do it or you could end up requiring spectacles.


Quoting plutonium210:
and yet it my duty

Those Apple license agreements sure do make a lot of demands upon the end user.


Quoting plutonium210:
and so, with obvious options available, I've decided to stay

Good to see, within all that ideological ranting you've managed a couple of well considered and helpful comments. :>


Quoting plutonium210:
to keep you guys on the path to enlightenment.

iTorch 2.0 as your guide, no doubt.


Quoting plutonium210:
Some of you will take longer than others, of course

You crusaders are nothing, if not dedicated. Raindog wonders if when the fanboys are in the bread aisle at the supermarket, those same fan-boys try to encourage other shoppers to only buy the same type of loaf as they get. Perhaps they just make a bee line down to produce and try to force banana shoppers to get apples instead? :>


16 October 2009, 12:08 PM (1 month ago)report abuse Send to a friend reply

Aubrey (Advanced member):

Quoting Raindog:
You crusaders are nothing, if not dedicated. Raindog wonders if when the fanboys are in the bread aisle at the supermarket, those same fan-boys try to encourage other shoppers to only buy the same type of loaf as they get. Perhaps they just make a bee line down to produce and try to force banana shoppers to get apples instead? :>

They should, of course, stop by the Free and Open Source Food trestle outside the supermarket and learn about the joys of baking their own bread and even compiling their own meals completely from sauce.

Quoting plutonium210:
to keep you guys on the path to enlightenment.

Enlightenment (www.enlightenment.org) has been in alpha for more than four years but is well on the way towards a superb beta release next month. Strangely enough, it is the only package I routinely compile from source code. Nice that the Appletards are keeping their eye on the bleeding edge even though it is now so very far away. :-)



16 October 2009, 4:01 PM (1 month ago)report abuse Send to a friend reply

Tin (Senior Forumologist):

Quoting Aubrey:
Enlightenment (www.enlightenment.org) has been in alpha for more than four years


Ah...Good old Enlightenment. I remember using that about 6 or 7 years ago. Good times ;-)

16 October 2009, 4:24 PM (1 month ago)report abuse Send to a friend reply

Raindog (Senior Forumologist):

Quoting Aubrey:
but is well on the way towards a superb beta release next month.

Don't be late, as you can see there are many round here that could do with a dose of enlightenment. :>


16 October 2009, 4:36 PM (1 month ago)report abuse Send to a friend reply

The Big Baboo (Advanced Forumologist):

Peace,brothers Peace :) Why don't we all get together and I'll buy you a round of Scotch :) That's if you can find me of course ;)

16 October 2009, 12:02 PM (1 month ago)report abuse Send to a friend reply

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