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United Kingdom : LME to deploy MILLENNIUM IT s multi asset class surveillance platform.

London Metal Exchange (LME) has inked an agreement with Millennium IT, a tech subsidiary of London Stock Exchange, to deploy new surveillance software for real-time detection of abnormal trading patterns.

LME already employs the Millennium Exchange platform in its derivatives markets. It will now upgrade its surveillance application to MillenniumIT's real time, multi asset class surveillance platform. The deployment will enable the integration of LME's present reference data management system, upgrading operations and assuring better efficiencies.

According to Diarmuid O'Hegarty, Deputy CEO of London Metal Exchange, the upgrade will allow LME to develop new alerts, to adjust to market changes and to handle volume growth.

O'Hegarty said, "MillenniumIT's surveillance application will provide us with a very flexible real time analysis of trading patterns. This will enhance our ability to detect and query real or apparent market abnormalities."

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Publication:Mena Report
Date:Oct 23, 2012
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