London Metal Exchange (LME) is to pay out a further
"multi-million dollar" sum for technology after the end of its
current deal with OM, but stressed its new system will still
come in substantially cheaper than the OM system.
The exchange will pay an unspecified multi-million dollar
sum to Savvis Communications over three years for the provision
of managed hosting and private networking services. This is in
addition to the £2m being paid to Swedish firm Cinnober
Financial Technology for a new version of the LME Select
trading platform and a matching and registration engine.
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