Millennium IT employs over 900 Lankans

London Stock Exchange Group’s subsidiary MillenniumIT in Malabe, employs 926 Sri Lankans, according to its annual report for 2015.

The Group acquired MillenniumIT in 2009 with 300 employees. It was originally set up by a Sri Lankan IT professional Tony Weerasinghe. It provides advanced capital market software products and enterprise sales and IT infrastructure services to over 40 organisations and exchanges around the world.

The products include the Millennium Exchange, which the LSE Group calls its flagship multi-asset trading platform. All of the Group’s cash equity and retail bond markets run on the latest version of Millennium Exchange.

Last year, a large number of group employees (including for the first time over 100 participants in Sri Lanka) made considerable gains from the maturity of the company’s 2012 Sharesave scheme, with more than a fourfold share price growth during this period, according to the LSEG annual report.

It has an International Sharesave Plan (ISP), which provides share options to Group employees not based in the UK on similar terms to the options available to UK employees. To date, employees in France, Hong Kong, Italy, Sri Lanka and the US have participated in the ISP.