London Market PPL Next Gen to be delayed and ‘reassessed’

The board of London Market’s electronic placing platform (PPL) is to “reassess” its Next Gen delivery plan to make sure it “fits its priorities”, meaning it will miss its “ambitious” September launch date target.

The board of PPL revealed May 03 that Next Gen delivery plan is to be reassessed as it has become clear that not all elements of the new platform will be ready in time for September.

The board is said to be engaging with its sub-committees to understand their priorities.

Sue Jakobek (pictured), CEO of PPL, commented: “We always knew that the September launch date was ambitious but, with our market representatives, believed it was right to aim for a window of opportunity in the renewal calendar when the platform is less busy.

“The decision to review the timelines and delivery options results from several factors including the increased complexity and accelerated appetite for APIs. However, the quality of what has been delivered so far is very strong and we have had outstanding feedback from market participants. Now we need to work with the market to ensure the delivery plan fits its priorities.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.