Since then, the CEO that brought TradElect to the LSE, Clara Furse, has left without saying why she was leaving. Sources in the City-London's equivalent of New York City's Wall Street--tell me that TradElect's failure was the final straw for her tenure. The new CEO, Xavier Rolet, is reported to have immediately decided to put an end to TradElect.
TradElect runs on HP ProLiant servers running, in turn, Windows Server 2003. The TradElect software itself is a custom blend of C# and .NET programs, which was created by Microsoft and Accenture, the global consulting firm. On the back-end, it relied on Microsoft SQL Server 2000. Its goal was to maintain sub-ten millisecond response times, real-time system speeds, for stock trades.
It never, ever came close to achieving these performance goals. Worse still, the LSE's competition, such as its main rival Chi-X with its MarketPrizm trading platform software, was able to deliver that level of performance and in general it was running rings about TradElect. Three guesses what MarketPrizm runs on and the first two don't count. The answer is Linux.
It's not often that you see a major company dump its infrastructure software the way the LSE is about to do. But, then, it's not often you see enterprise software fail quite so badly and publicly as was the case with the LSE. I can only wonder how many other Windows enterprise software failures are kept hidden away within IT departments by companies unwilling to reveal just how foolish their decisions to rely on archaic, cranky Windows software solutions have proven to be.
I'm sure the LSE management couldn't tell Linux from Windows without a techie at hand. They can tell, however, when their business comes to a complete stop in front of the entire world.
So, might I suggest to the LSE that they consider Linux as the foundation for their next stock software infrastructure? After all, besides working well for Chi-X, Linux seems to be doing quite nicely for the CME (Chicago Mercantile Exchange), the NYSE (New York Stock Exchange), etc., etc.