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  • Computerworld > London Stock Exchange reportedly to dump £40m platform: Dropping TradElect would be a dramatic about-face for the exchange, which had heavily promoted its ability to rival newer, dedicated electronic exchanges, and plumbed millions of pounds into doing so. It runs on HP ProLiant Servers and Microsoft .Net and SQL Server 2000 systems, and within a Cisco network architecture. The project to upgrade the technology was led by Clara Furse, the bourse's former chief executive. New CEO Xavier Rolet, who replaced Furse as CEO last month, is reviewing costs and cutting jobs. Some 120 roles will be done away with in London this week. Scrapping the TradElect system could also put more IT positions in London in doubt. A spokesperson at the LSE said the exchange "always reviews" its technology and that it could still assess new systems for electronic trading. In a statement, the exchange said: "With a new CEO at the helm, LSEG (LSE Group) has been reviewing its operational structure and has identified changes to how it organised.
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