We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
79,864 News Articles

London Metal Exchange mines new proximity data centre

Data centre in Slough offers fast connectivity to electronic trading system

Traders wanting to connect to the London Metal Exchange can now do so through the Equinix International Business Exchange (IBX) data centre in Slough.

The new access node on offer will provide LME members located at the Equinix campus an opportunity to connect directly to LMEselect, the Exchange's electronic trading platform, "dramatically reducing connectivity costs", said Equinix. The LMEselect platform is linked to the LME smart matching engine, which runs on the Novell SUSE Linux-based Millennium IT software now owned and used by the London Stock Exchange.

Established for more than 130 years and located in the City of London, the LME offers a range of futures and options contracts for non-ferrous, minor metals and steel billet. In 2010, 120.3 million lots were traded at the LME, while the total value of trading on the Exchange was $11.63 trillion.

The LME access node will "bring additional trading opportunities to Equinix's financial ecosystem", complementing the existing trading venues already connected via the data centre, said Equinix.

Michael Warren, chief technology officer at the LME, said: "Equinix's data centre campus will offer our members ultra-reliable colocation services. They have an established community of financial services firms worldwide and this provides the LME and its members with a ready-made market in which to operate."

In other recent trading news, Xavier Rolet, chief executive at the London Stock Exchange, hailed the "successful" migration of its technology to the Millennium IT platform, following several weeks of severe problems including a major four hour outage and continued third party pricing errors.

Photo credit: Us


IDG UK Sites

45 Best Android games: top Android games for your smartphone or tablet in 2014 (24 are free!)

IDG UK Sites

How Apple, Adobe, Microsoft and others have let us down over UltraHD and hiDPI screens

IDG UK Sites

Miranda July's Somebody app offers a very unusual take on messaging

IDG UK Sites

iPad Pro release date, rumours and leaked images - 12.9 screen 'coming in 2015'