Rivals praying for a disaster were horribly disappointed by the remarkably smooth launch this June of the London Stock Exchange’s new electronic trading system, which passed without a glitch.
TradElect, the new system, which is already in use at the Johannesburg Stock Exchange, replaces the old Sets order book and dramatically improves the speed and capacity of the LSE. According to the exchange, traders will now be able to execute trades fully in “around 10 milliseconds”, while the new system increases the volume that the exchange can handle fivefold – enough, boasts the LSE, to handle the current trading volume of all the equities in Europe.
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