Following three years of planning, development and rigorous testing, the London Stock Exchange (âthe Exchangeâ) has successfully launched their new trading platform TradElect on 18th June, with SMARTS as the real-time market monitoring and surveillance solution.
The project has seen Smarts Group working closely with the Exchange and Accenture to deliver the customised solution. The project is part of the Â£40 million, four-year technology revolution, known as the Technology Roadmap (TRM) at the Exchange.
Robin Paine, Chief Technology Officer at the Exchange said, âMarket integrity is critical to the success of any trading venue and SMARTS allows us to keep an eye on the market, both in real-time and historically. This enables us to maintain visibility and control over the market in an efficient and effective manner. Our new trading system, TradElect, delivers trade confirmations to the market within 10 milliseconds and within this environment we require timely and accurate market supervision, which SMARTS delivers for us. Additionally, TradElect and SMARTS provide us with a solid foundation for the development of next generation trading services.â
Thomas Jones, Chief Executive Officer of the Smarts Group, said: âWe are delighted to have supported the London Stock Exchangeâs Technology Roadmap, with the successful launch of SMARTS. The success of this project further enhances SMARTSâ position as the leading solution for realtime security market surveillance and market supervision.â
Magnus Almqvist, General Manager EMEA of the Smarts Group commented that the Smarts Group is very proud to be the supplier of the market monitoring and surveillance to the fastest and most efficient market in the world. He further added that, âThe close cooperation with the Exchange and the Technology Roadmap IT team will continue for years to come to ensure SMARTSÂ® continues to provide cutting edge real-time surveillance and market control while catering for the increases in capacity resulting from the Exchangeâs success in providing an efficient trading service to its customers.â