Tradelect went live in June 2007 on time and to budget in the culmination of a four-year, ￡40m IT roadmap. One of the core principles at the start of the project was software agility. Tradelect was developed using Microsoft's .Net framework and at its heart was a complex piece of [proprietary] middleware called Ibus. It replacec the Sets electronic order book, which was developed using Cobol in 1995. The cost of increasing the capacity of Tradelect would be 20% of the cost of creating a similar increase on Sets, said Robin Paine, former CTO of LSE.
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