LSE launches revamped trading system
New trading system boosts volume by 6% on first day trading at LSE
The London Stock Exchange (LSE) has launched a new electronic trading system, TradElect, which claims to be able to execute a trade in 10 milliseconds.
The new system forms part of the LSE’s £40 million investment in new technology to help the exchange cope with increasing volumes and to offer a more competitive service in anticipation of new entrants, once the Markets in Financial Instruments Directive comes into force in November.
According to the LSE, volumes increased by 6% on the first day of using the new system. The system is designed not to slow down during peak times, as has been the main problem with older systems.
Other exchanges, including the New York Stock Exchange and Euronext, hope to speed up their own trading systems to remain competitive in an expanding market.
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