Feroz Cader receiving the award for Best Value Added Exporter of the Year 2019/20 on behalf of LSEG Technology
LSEG Technology enjoyed a banner evening as the company took home no less than five awards at the 24th Presidential Export Awards conducted by Sri Lanka’s Export Development Board (EDB). The event took place on 26 November 2021 at the BMICH under the patronage of His Excellency the President Gotabhaya Rajapakse. Initiated in 1981, Presidential Export Awards is the most prestigious accolade recognising Sri Lankan exports for their significant contribution to the export development and economic growth of the country.
LSEG Technology was awarded in the categories of Best Value-Added Exporter of the Year, Innovative Export Product of the Year and a sectoral award as the Best Exporter in the ICT sector for 2019/2020. For the years 2020/2021, LSEG was awarded Innovative Export Product of the Year and the sectorial award in the ICT sector as the Best Exporter. This is the fifth occasion that LSEG has been recognised at the Presidential Export Awards for the company’s success in taking Sri Lankan engineering to the world through cutting-edge technological innovations making a difference on a global stage.
The company was awarded Innovative Export Product of the Year for the year 2019/20 for the revolutionary MCCP product implemented as part of the London Clearing House (LCH) rollout. The MCCP is LSEG Technology’s post-trade platform for LCH’s EquityClear service.
The platform is designed to be scalable, highly efficient and resilient. This innovative technology offers zero-touch straight-through processing (STP) and parallel real-time processing using hardware acceleration. Now trades can be processed with high throughput and low latency with margin calculations done in real-time with a significant reduction in end of day processing time. The platform can clear and risk manage 20 million trades (40 million trade sides) per day at a throughput of 1600 trades per second. It successfully processed nearly 80 million trade sides cleared in the first five days of operation which is EquityClear’s record for the largest number of volumes processed.
LSEG Technology was also awarded the Innovative Export Product of the Year for the year 2020/21 for MRisk, which is a resilient and extensible multi-instrument real-time risk management and collateral platform. It is used in trading and clearing workflow to minimise counterparty risk and enable stakeholders to maximise capital utilisation. Millennium Risk helps post-trade businesses stay compliant with CPMI-IOSCO principles of the financial market infrastructure (PFMI) and provides controls for trading venues that aspire to offer pre-emptive gating of transactions or reactive collateral calls in real-time through stringent market, credit, and liquidity risk measures.
Feroz Cader (Head of Market Services Technology, LSEG) said “We are humbled to receive not just one, but five Presidential Export Awards for all the hard work our teams have done over the last two years. As the only vendor globally, who can develop a product suite on a common technology platform, we hope to be the desired tech-stack provider that helps to shape the future of financial market infrastructure, right here from Sri Lanka”.
Commenting on the multiple awards wins, Rob Brouwer (Head of Market Services Technology, LSEG) said “Even though the last couple of years have been challenging for many, LSEG Technology continued to support our customers the world over, despite extreme volatility in global markets due to the pandemic. We went ahead with key deliveries to our customers including the rollout of a new platform for the London Clearing House. Our teams in Sri Lanka have worked extremely hard to deliver many multi-faceted projects during this time”.
These prestigious awards mark a successful two-year period for LSEG Technology. Despite the numerous challenges that were presented and the difficult business environment that was created as a result, LSEG Technology was not only able to remain operational but experience growth as well. The company continued its hiring process throughout the past two years and brought onboard significant new talent to the team. With robust health, safety and Work-From-Home policies in place the company was able to keep deliverables on track. LSEG also notched wins in several Marketing awards for the educational and recruitment campaigns conducted during this time.
LSEG (London Stock Exchange Group) is more than a diversified global financial markets infrastructure and data business. We are dedicated, open-access partners with a commitment to excellence in delivering the services our customers expect from us. With extensive experience, deep knowledge and worldwide presence across financial markets, we enable businesses and economies around the world to fund innovation, manage risk and create jobs. It’s how we’ve contributed to supporting the financial stability and growth of communities and economies globally for more than 300 years.
LSEG Technology delivers key platform and operational efficiencies to over 50 financial market infrastructure and financial services firms that include London Stock Exchange Group, HKEX, Johannesburg Stock Exchange Singapore Exchange, London Metal Exchange, Aequitas NEO, NCDEX, TP-ICAP and key market participants worldwide.
LSEG is headquartered in the United Kingdom, with significant operations in 70 countries across EMEA, North America, Latin America and the Asia Pacific. Employing 25,000 people globally, with more than half located in the Asia Pacific.
Kulendra Janaka receiving the award for Innovative Export Product of the Year 2019/20 on behalf of LSEG Technology
Rob Brouwer receiving the ICT Sectoral Award 2020/ 21 on behalf of LSEG Technology
Hiran Jayaratna receiving the ICT Sectoral Award 2019/20 on behalf of LSEG Technology
Najith Liyanage receiving the Innovative Export Product of the Year 2020/21 on behalf of LSEG Technology
