Page Summary
The Millennium Exchange is the electronic trading platform used by the London Stock Exchange. In 2009 the London Stock Exchange Group wanted to develop a new, cheaper and faster electronic trading platform. They wanted to develop their own, but they decided to acquire the Millennium Exchange instead. MillenniumIT created the Millennium Exchange, which the London Stock Exchange Group bought for £18 million.
In 2010 the Millennium exchange had broken the world record of trading speeds, with 126 microsecond transaction times in the Turquoise dark pool. The exchange went live on the first of November that year, but due to human error that occurred in suspicious circumstances, the exchange was taken offline. In February 2011 the exchange went online again and since then it has been sold to other exchanges like the Oslo Stock Exchange, Johannesburg Stock Exchange, and the Bolsa de Valores de Lima. In 2019 digital asset trading platform AAX bought the Millennium Exchange to run its digital asset exchange.
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Stefan Grasic (Dipl.-Jur) is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level. Stefan began trading in 2010 as a college student. Money was tight,…