MillenniumIT, an exchange systems company formed in Sri Lanka in 1996 and acquired by London Stock Exchange Group in 2009, built its reputation on what was touted as the world’s fastest trading platform. John Mackay (Mack) Gill, the former SunGard Data Systems executive who was named MillenniumIT’s chief executive in May 2013, concedes that “speed is not much of a differentiator these days. What’s important now is resilience and uptime.” Still, high frequency trading loomed large in the formation of Aequitas Innovations and in that organization’s choice last year of MillenniumIT’s technology for the soon-to-launch Aequitas NEO Exchange in Canada. Backed by Barclays, ITG Canada Corp., RBC Capital Markets and other financial institutions, Aequitas seeks to be an HFT corrective in terms of transparency and fairness for issuers and long-term investors. “We’ve worked for clients in different parts of the trading cycle, but doing it from scratch with a new exchange is cool,” Gill says. It is “not a simplistic anti-HFT thing”; Aequitas’s focus on optimizing “latency impact” to ensure a level playing field made MillenniumIT a natural partner, the 45-year-old adds. He points to Aequitas as proof of MillenniumIT’s ability to go global, building on its longtime strength in Asia and Europe. It also underscores the company’s full range of trading and clearing capabilities. “The posttrade environment is going to look and feel more like a trading environment,” predicts Gill, who oversaw the deal to replace Singapore Exchange’s posttrade infrastructure in late 2013. “Having a reputation for efficient real-time execution in trading will help us as we expand our posttrade offering,” Gill says.