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International markets infrastructure provider, London Stock Exchange Group last week revealed plans to hire up to 400 highly-skilled Sri Lankans as it has decided to shift part of its technology and business functions in Sri Lanka.

The new company to be formed under the name of London Stock Exchange Business Services Colombo Ltd is currently looking at high-end tech and biz skills required for capital markets.

The Centre will be set up under a 10-year lease agreement in a two acre land with world class office spaces at the Tripoli market area where some of the technology companies are already located.

Duminda Liyanwela, executive director, Exchanges Technology said that this is the first time the Group is building this kind of centre anywhere in the world.

“These are not back office functions. We are really talking about high-end technology skills and servicing clearing houses and exchanges from Colombo,” Liyanwela said.

London Stock Exchange Group currently operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange.

In addition to the Group’s own markets, over 35 other organisations and exchanges use the Group’s MillenniumIT trading, surveillance and post trade technology.

Headquartered in London, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 4,700 people.