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The purpose of this announcement is to inform customers of a revised timeline for the launch of the new Millennium Exchange platform for the UK cash markets.
Good progress has been made towards the migration to Millennium Exchange and clients have been able to experience the performance of the new platform via the recent dress rehearsals, which have also successfully tested the secondary site invocation.
Following feedback from market participants we note that clients have confirmed that the functionality and performance meets their expectations, however they have advised that more time is required to ensure the existing market infrastructure can process the high volume of traffic clients expect due to the increased performance of Millennium Exchange.
Given the additional time needed to upgrade relevant equipment at client sites, and the scheduled change freeze period in December, we confirm that we will not be going live this year. The go-live date for the launch of the platform will now be in 2011. The final date for the migration will be confirmed once all of the necessary upgrades have been installed and market participants will receive four weeks notice of the launch date.
An additional Dress Rehearsal will also be scheduled, the date of which will be advised with the new migration date.
The LSE remains committed to ensuring that the migration to the new platform is completed with the minimum of risk for market participants and believes that this revised timeline will enable all customers to complete the necessary preparations in a timely and orderly manner.
LSE Group has also formally notified the market by releasing an announcement as to its decision to postpone the UK cash market migration. For further details please click on the link below.
