Millennium Surveillance goes live at Egyptian Exchange
MillenniumIT, a leading technology solutions provider and part of
London Stock Exchange Group (LSEG), today announces that Millennium
Surveillance, the company's trading surveillance software has gone live
at the Egyptian Exchange (EGX), one of the oldest exchanges in the
region.
This news follows the LSEG announcement of the successful launch of
MillenniumIT systems at three exchanges: Johannesburg Stock Exchange,
Mongolian Stock Exchange and Borsa Italiana, part of LSEG.
MillenniumIT, which has over a decade of experience in building
technology solutions for the capital markets industry, have provided EGX
with a Trading Surveillance System, built around an evolutionary
architecture capable of adapting to the changing needs of the market.
Millennium Surveillance will help EGX effectively maintain an orderly
market in today's fast paced, electronic trading environment. Millennium
Surveillance will enable EGX to proactively, accurately and rapidly
identify abusive behaviour and conduct further investigations to ensure
a fair, efficient and transparent market for all participants.
Tony Weeresinghe, CEO of MillenniumIT and Director of Global
Development at London Stock Exchange Group, said "We are very pleased
offer our services to the Egyptian Exchange to improve its surveillance
and market monitoring functions. We believe our state-of-the-art system
will not only help EGX better oversee its market through rapid detection
of abnormal trading activity but also help support this detection by
further investigation of these behavioral patterns."
Dr. Mohammed Omran, Executive Chairman of the Egyptian Exchange said:
"We are happy to announce that EGX is now live with Millennium
Surveillance, an international best practice surveillance system. We are
very confident that our new system will allow EGX to fulfill our vision
of providing a high quality market place through greater transparency.
Equipped with technology that can meet the future demands of the market,
we look forward to establishing ourselves as a highly equitable exchange
which is committed to market integrity.' |