MillenniumIT showcases real-time post trade technology capability

  • Millennium PostTradeTM is a real-time CCP clearing, settlement and risk platform, designed to enable harmonisation and operational savings across business lines
  • Enables real-time cross-asset portfolio risk management, while improving operational resilience and reducing running costs
  • Modern integrated IT framework will boost business agility and reduce time to market, supporting current and future work-flows
  • Includes innovative use of graphics processing unit (GPU) technology to provide real-time risk management

MillenniumIT is developing its high performance, clearing and risk management technology for LCH. Millennium PostTradeTM enables real-time cross-asset portfolio risk management, based on a single, multi-asset, multi-function platform. The MillenniumIT platform offers improved operational resilience and reduced running costs, providing customers with the agility needed to respond to changing market needs more quickly and cost effectively.

Millennium PostTradeTM is underpinned by Millennium Advanced Platform (MAPTM) which provides ultra-high availability and low latency processing to all MillenniumIT’s customers and features an innovative GPU-powered risk management capability.  MAPTM is a world leading resilient capital market infrastructure platform and today supports over a third of European equity flow and over forty markets and trading venues around the world.

Millennium PostTradeTM will provide LCH and other Post Trade clients with a highly-optimised, ‘zero-touch’ real-time framework, able to support all asset classes.  The product leverages GPU technology, providing the ability to run multi-dimensional risk algorithms, supplemented by risk add-ons to cover concentration, idiosyncratic and liquidity risk.  Real-time capabilities will be extended to stress testing, back testing and member-driven “what if” scenarios, providing a comprehensive and flexible real-time enterprise-wide risk management framework. Millennium PostTradeTM delivers a step-change speed improvement compared to traditional software-based implementations. Through parallelisation of real-time and batch capability, the platform seamlessly supports existing and future work-flows.

Mack Gill, CEO of MillenniumIT said:
“We are excited to bring our Millennium PostTrade product, which applies our well tested real-time, resilient trade lifecycle infrastructure to post trade clearing houses, such as LCH, a leading global clearing house.  Bringing the power of GPU’s and real-time fault tolerant software to modernise clearing house infrastructure is a natural extension of our recent successful launch of London Stock Exchange Group’s Group Ticker Plant (GTP) powered by FPGA technology.”

Suneel Bakhshi, Group CEO, LCH said:
“We are looking forward to the outstanding performance, flexibility, and resiliency that the Millennium solution will bring to LCH.  We are excited by the performance advantage of a GPU-based platform and the new opportunities it promises.  The Millennium platform will also allow us to continue to develop and enhance world-class Clearing solutions for our customers.”

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For further information:

Media    
Ed Clark    +44 (0)20 7797 1222
newsroom@lseg.com

Notes to editors:

About MillenniumIT:

MillenniumIT is the power behind many of the world’s financial markets. MillenniumIT pre- to post-trade, multi-asset, ultra-low latency, agile technology infrastructure supports the trade lifecycle for more than 40 financial institutions and financial services firms around the world.

The MillenniumIT solution suite includes ultra-low latency trading platform Millennium Exchange™, the Millennium SOR™ smart order router; Millennium MarketData™, Millennium Surveillance™, and the integrated clearing, settlement and depository solution Millennium PostTrade™. Underpinning all of these solutions and providing the core integration layer is the Millennium Advanced Platform™ (MAP™).

Clients include Borsa Italiana, HKEx, Johannesburg Stock Exchange, London Metal Exchange, London Stock Exchange Group, Singapore Exchange, Toronto Stock Exchange, Tullett Prebon and Turquoise.

Founded in 1996 and head-quartered in Sri Lanka, MillenniumIT is a fully-owned subsidiary of London Stock Exchange Group.

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) is an international markets infrastructure business. Its diversified global business focuses on capital formation, intellectual property and risk and balance sheet management. LSEG operates an open access model, offering choice and partnership to customers across all of its businesses. The Group can trace its history back to 1698.

The Group operates a broad range of international equity, ETF, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS (Europe's leading fixed income market); and Turquoise (a pan-European equities MTF). Through its platforms, LSEG offers market participants, including retail investors, institutions and SMEs unrivalled access to Europe’s capital markets. The Group also plays a vital economic and social role, enabling companies to access funds for growth and development.

Through FTSE Russell, the Group is a global leader in financial indexing, benchmarking and analytic services with approximately $10 trillion benchmarked to its indexes. The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, XTF and RNS.

Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of LCH, a multi-asset global CCP operator, LSEG owns CC&G, the Italian clearing house; Monte Titoli, a leading European custody and settlement business; and globeSettle, the Group’s CSD based in Luxembourg.

LSEG is a leading developer and operator of high performance technology solutions, including trading, market surveillance and post trade systems for over 40 organisations and exchanges, including the Group’s own markets. Additional services include network connectivity, hosting and quality assurance testing. MillenniumIT, GATElab and Exactpro are among the Group’s technology companies.

Headquartered in the United Kingdom, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 3,500 people.

Further information on London Stock Exchange Group can be found at www.lseg.com