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by RyanZAG 4509 days ago
Not even just the early days - Microsoft's fairly recent attempt at providing software for the London Stock Exchange met with disaster and frequent downtime [1]. This from a major tech giant, not just a card game exchange. Running a real exchange is a very difficult thing to do once the scale starts to ramp up.

[1] http://www.telegraph.co.uk/finance/markets/4676369/Seven-hou...
2 comments
zanny 4509 days ago
This. I don't get why everyone is harping that one private company being completely incompetent has any reflection on the technology it acted as an exchange for.

MtGox never had their shit in order, exploded overnight because Bitcoin is awesome, and hopefully we are finally seeing their inevitable collapse so that someone with more competency can take over.

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minimax 4509 days ago
It wasn't Microsoft providing the software. It was software running on Windows. The actual software was an in-house developed matching engine called Tradelect. LSE eventually switched away to a 3rd party matching engine with their acquisition of MilleniumIT.
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RyanZAG 4509 days ago
True, but Microsoft had a big role in it.

"The new technology platform has been developed using the Microsoft .NET Framework, with support from Microsoft and Accenture, and marks the final phase of the Exchange's four-year Technology Road Map project. "[1]

I was also told that there were Microsoft engineers on site doing training and review through the project. Either way, my point is that building a trading platform is extremely difficult even with top talent and enormous investment.

[1] http://www.onwindows.com/Articles/LSE-TradElect-system-goes-...

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minimax 4509 days ago
Good points. The only other Windows based matching engine I know of is Direct Edge in the US, and I think even they are going to switch over using BATS' Linux-based matching engine once the BATS-DE merger completes.
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