LSE to Launch Real-Time Information Services on New IP Network

LONDON--The London Stock Exchange plans to use its new IP-based network to launch four new real-time information services.

The services--Continuous Volume Weighted Average Prices, Daily Cumulative Volumes, Uncrossing Price with Volume and Enhanced Best Price Information--"will satisfy the market demand for standardized, and officially badged, London Stock Exchange data," the exchange says.

A spokesperson for the exchange says it may add more real-time information services in the future and that its services are "kept under constant review in consultation with customers."

The exchange currently uses an X.25 network as the platform for its various information services to market data vendors and financial websites, including the dissemination of information from the London Market Information Link (LMIL). The IP network will replace X.25 and will be rolled out during the first quarter of 2002 (Trading Technology Week, Aug. 27). The new information messages will go live shortly after this.

The IP network will provide the platform for a new communication service called Extranex, which will deliver LMIL, trading services and new customer services such as covered warrants to its broker customers and market data vendors.

Colin Cruickshank, IT operations manager at the exchange, is managing the rollout of the network, and David Lester, the exchange’s new chief information officer (IMD, June 18), will oversee it.