Capital markets technology provider Millennium Information Technologies has launched a multiproduct trading platform with latency less than one millisecond.
According to the company, the Millennium Exchange platform can handle sustained volumes of over 100,000 orders per second, with core latency remaining below one millisecond. Moreover, the platform scales evenly, with each increase of 1,000 orders per second typically requiring only $50,000 of hardware.
Millennium Exchange makes use of MillenniumIT’s patented technology, which provides the capability to add completely new products and trading methodologies to the platform without any change to code. Trading and market data access is provided through established protocols including FIX and FAST. The platform operates on Linux and Solaris; the sub-millisecond latency was observed in tests run on Solaris based SunFire X4600 M2 servers with AMD processors.
Current customers of MillenniumIT include the American Stock Exchange and interdealer broker ICAP.
The upheaval we are seeing today in the exchange industry, both in terms of the surge in transaction speeds and volumes as well as the advent of regulations such as Regulation NMS and MiFID, has shown how crucial it is to have the right technology, said Tony Weeresinghe, CEO of MillenniumIT Weeresinghe.