London Stock Exchange increases investment in MillenniumIT
MillenniumIT, a leading technology solutions provider and a part of
London Stock Exchange Group (LSEG), announced the Group's plan for
further investment in MillenniumIT. LSEG will invest in the construction
of a new state-of-the-art software complex to accommodate the company's
growing specialised international software and services business.
Since the acquisition of MillenniumIT in 2009, LSEG has invested
heavily in growth of the company - expanding the workforce to over 600
and investing in property and infrastructure on its Malabe campus. The
new 40,000 sq ft complex is expected to house approximately 300 people
and will be built within MillenniumIT's extensive 16.5 acre Malabe
Campus to accommodate the demands of MillenniumIT's increasing
operation.
LSEG Chairman, Chris Gibson-Smith, CEO, Xavier Rolet and Tony
Weeresinghe, MillenniumIT's CEO were amongst those present at the
foundation stone laying ceremony held at the construction site.
Since MillenniumIT joined LSEG, there has been no looking back for
either party. London Stock Exchange's (LSE) equity cash markets went
live last year with MillenniumIT's high performance trading software, at
an average latency of less than 120 microseconds, making the LSE one of
the fastest trading venues in the world. MillenniumIT's trading
platform, Millennium Exchange is highly scalable and designed for
multi-asset class trading, offering London Stock Exchange's clients
superior technical performance and enhanced functionality.
MillenniumIT has also directly benefited from being part of an
increasingly diverse international exchange group, reporting strong
growth in financial performance and benefitting from greater
international visibility. This is further evidenced by the fact that in
2011 MillenniumIT accounted for over 20% of Sri Lanka's software exports
revenue. Over the past two years MillenniumIT's software business has
also significantly increased its global client base, having signed over
15 new clients, including the Chittagong Stock Exchange, the Delhi Stock
Exchange and the Securities and Exchanges Commission (SEC) of Sri Lanka.
MillenniumIT's local SI business has also seen revenue growth of over
30% since 2009. The SI business complements the software projects by
providing the infrastructure build for clients.
Xavier Rolet, CEO of the London Stock Exchange Group said, "I am
delighted to be in Sri Lanka and to be laying the foundation stone for
MillenniumIT's new campus building. Since joining London Stock Exchange
Group in 2009, MillenniumIT has revolutionised our own Group technology,
providing us with one of the fastest and most advanced trading platforms
in the world. Millennium has also been instrumental in helping drive the
Group's international expansion through sales to exchanges and business
around the world."
Tony Weeresinghe, CEO of MillenniumIT said, "Since MillenniumIT
joined the London Stock Exchange Group, we have directly benefited from
the international strength of LSEG's brand.
This has helped the company to innovate, expand, create jobs and
importantly to contribute to Sri Lankan economic growth. Today is
another very important step in MillenniumIT's exciting history. Our new
campus building will allow MillenniumIT to continue to expand our
operations in Sri Lanka and also our ability to successfully deliver for
our customers around the world."
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