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London Stock Exchange Finishes Switch To Linux

Posted by Soulskill on from the takes-a-while-to-put-on-a-good-tux dept.

DMandPenfold writes "The London Stock Exchange has successfully set into live trading a new matching engine based on Novell SUSE Linux technology, following successful last-step setup procedures on Saturday. The move has been billed as one of the LSE's most significant technological developments since the increasing prevalence of electronic trading led to the closure of the traditional exchange floor in 1986. LSE chief executive Xavier Rolet has insisted that the exchange, once a monopoly, will deliver record speed and stable trading in order to fight back against the fast erosion of its dominant marketshare by specialist electronic rivals."

6 of 106 comments (clear)

  1. the problem is algorithmic trading... by SuperBanana · · Score: 3, Interesting

    the exchange, once a monopoly, will deliver record speed and stable trading in order to fight back against the fast erosion of its dominant marketshare by specialist electronic rivals

    The issue facing markets isn't that. It's algorithmic trading:

    https://secure.wikimedia.org/wikipedia/en/wiki/Algorithmic_trading#Issues_and_developments

    https://secure.wikimedia.org/wikipedia/en/wiki/2010_Flash_Crash

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  2. ACN FTW by Anonymous Coward · · Score: 3, Interesting

    And so ends one more of an increasingly long line of Accenture / MSFT snafus.

  3. Re:Even Higher Speed! by Anonymous Coward · · Score: 2, Interesting

    Maybe I'm not cynical enough, but all the low-latency trading and algorithmic competition in the world isn't really going to change the fact that I can sit here with delayed stock quotes, look at a company's financial statements, look at the company's P/E ratio and potential for growth and put a bid in at a price of my choosing.

  4. Re:Even Higher Speed! by Nursie · · Score: 4, Interesting

    It sucks money out of the stock market.

    Fans of it will say it provides 'increased liquidity'.

    Me, I say, it sucks monkey out of the stock market. If it didn't the HFT people wouldn't bother doing it. The money comes from somewhere, and that somewhere is other investors. If it *doesn't* come from somewhere then creating it means there's more money and it comes from everyone via inflation.

    That's my take. May be wrong, may be dense, but that's my take. Me, I'd scale back the whole thing massively because I still haven't had anyone explain adequately to me how, after they've gone public, the company's stock market valuation matters (to the company) for anything at all, except for perhaps their ability to rack up debt.

  5. Re:get the fact by miffo.swe · · Score: 4, Interesting

    Still, Microsoft was heavily involved on every levels of the project. If Microsoft cant make .net / MSSQL work and design it right, who can?

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  6. LSE investigating potential IT problem at close by DMandPenfold · · Score: 3, Interesting

    London Stock Exchange investigating potential system problem on closing auction http://www.computerworlduk.com/news/it-business/3261177/london-stock-exchange-investigating-potential-system-problem-on-closing-auction/ The London Stock Exchange has said it is investigating an issue on its main cash market, which yesterday implemented a new matching engine based on Linux technology. The LSE declined to give details on what had happened until the investigation was complete, and it is not known whether the new system was responsible. The system, written in C++ language on Novell SUSE Linux-based datacentres, replaced a Microsoft .Net-based system that ran on Windows Server and SQL Server.... http://www.computerworlduk.com/news/it-business/3261177/london-stock-exchange-investigating-potential-system-problem-on-closing-auction/