London - The London Stock Exchange (the Exchange) has worked with Accenture and Microsoft to create key data solutions for the Exchange, Europe's largest securities market. One solution is a new market information and data access system, which will greatly improve the richness and delivery speed of the Exchange's market data, and should lead to increased revenue. The solution is an excellent example of the Exchange's strategy to increase its range of products and services, cut costs and maintain high levels of customer service by using the latest technology.
The market information and data access system, which went live on the 14th April, was developed and implemented by Accenture to deliver real-time price
and value-added information to both market systems and consumers at the highest speed possible. The Exchange believes that the new products and services delivered on this system have the potential to significantly increase the Exchange's annual revenue.
The system, based on the Microsoft .NET Framework and hosted on Microsoft
Windows Server 2003 which is officially launched today, consumes raw trading
data from 350 institutions and publishes it in real-time. It also draws on a
newly created corporate data warehouse that gives the Exchange's customers
access to a wide range of current and historical data going back 30 years.
"The value of stock market information depreciates faster than almost any other product in the world. Speed of delivery is vital," says David Lester, CIO, London Stock Exchange. "Our reputation is staked on the value and timeliness of the data we deliver to our customers. We wanted the capability to process at least 500 messages a second, the flexibility to broaden our product range to add value for our shareholders, and the peace of mind that we had a solution we could rely on. Working with Microsoft and Accenture, we have delivered a system that gives us all this and more."
Lester continues: "Accenture and Microsoft have demonstrated an in-depth
understanding of our business needs and helped us take advantage of the latest technology without sacrificing resilience. Following stringent comparisons with other technologies, we made the decision to use Microsoft."
David Slight, industry marketing manager for financial services at Microsoft
comments: "Following stringent testing, the Exchange chose the Microsoft platform on the basis of its high performance, scalability, reliability and
fast implementation times. Since implementing its Microsoft .NET-based
market information and data access solution, the Exchange has already seen
performance reach 3000 transactions per second."
"Accenture has a long history with the Exchange and this project provides yet another example of how they have been bold in harnessing the potential of technology - realizing the business advantages that it can provide," says John Erik Ellingsen, a partner in Accenture's Financial Services operating group, responsible for the company's work at the Exchange. "Accenture teams with Microsoft regularly, and the combination of their technology focus and Accenture's industry knowledge and delivery capability has proven to be a
powerful alliance in terms of helping clients bring new services to market
quickly and efficiently."