Microsoft inside the exchange

Microsoft has long faced by a credibility gap in getting into mission critical, enterprise settings. One initiative they embarked on was the `TradElect’ system which did trading at London Stock Exchange. This trading system was built by Microsoft and Accenture who were keen to prove that it could work. It was aggressively used in ad campaigns by Microsoft who claimed that if they could handle London Stock Exchange then they are ready for Serious applications. The story seems to have gone badly wrong for them. LSE consistently failed to match rivals like Chi-X which run Linux in becoming a credible choice for algorithmic trading. Then there was a day when the trading system collapsed (9 Sep 2008). This played a role in the CEO of LSE, Clara Furse, getting sacked. The new CEO, Xavier Rolet, is said to have decided to dump ... [Follow Original Article link for full content.]