"We filled the vacancy the next day"
LSE 'questioning future of trading system'
The London Stock Exchange (LSE) is questioning whether to upgrade its trading system in favour of a new or enhanced version, reports suggest.
Introduced two years ago, it was four years in development using Microsoft's .net framework.
Computer Weekly stated that the bourse may retire TradElect to keep up with the rest of the industry. A spokesperson explained how much technology had changed since the system was first designed.
"It did the job of keeping us competitive and giving us next generation technology, but it is now six years since we started on the project," he told the online resource.
However, chief executive officer at the Financial Services Club said it is unlikely the LSE will ditch TradElect, due to the "millions" spent making it a platform that could be added to and further developed.
According to the Financial Times, the stock exchange uses almost half of its total budget on technology. But competition from Chi-X, a smaller facility, has forced a rethink.
Introduced two years ago, it was four years in development using Microsoft's .net framework.
Computer Weekly stated that the bourse may retire TradElect to keep up with the rest of the industry. A spokesperson explained how much technology had changed since the system was first designed.
"It did the job of keeping us competitive and giving us next generation technology, but it is now six years since we started on the project," he told the online resource.
However, chief executive officer at the Financial Services Club said it is unlikely the LSE will ditch TradElect, due to the "millions" spent making it a platform that could be added to and further developed.
According to the Financial Times, the stock exchange uses almost half of its total budget on technology. But competition from Chi-X, a smaller facility, has forced a rethink.