Stock exchange returns to in-house IT

The London Stock Exchange (LSE) has decided to transfer some 150 outsourcing staff back to its in-house technology systems.

Computerworld UK magazine reports that the trading body has opted to revamp its IT strategy, so as to better suit the demands of online trading.

However, though 150 jobs have been brought back in-house from outsourcing contractor Accenture, the LSE has renewed its contract with Accenture, who will still manage software development.

A spokesperson for the LSE explained the changes to the IT publication: "Technology basically underpins our competitive advantage, so we're keen to bring the expertise in-house and continue to invest in it.

"The exchange is basically a technology business these days. Investment in technology and keeping these systems up and running is key."

The employees brought back to the trading house will be responsible for opening and closing the electronic market systems each day.

LSE chief information officer David Lester was also in favour of the new strategy: "IT will differentiate the LSE so bringing staff in-house - to align them with our core objectives, strategic direction and rewards over the next five years - will help us achieve that.

"IT is crucial to what we do so we want to ensure that we continue to lead the world by aligning service delivery with the exchange and its business."

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