A New Crypto Exchange in Hong Kong Powered by London

A New Crypto Exchange in Hong Kong Powered by London

Hong Kong-based finch company ATOM Group announced that the London Stock Exchange technology will power its AAX cryptocurrency exchange platform that is planned to be launched the first half of 2019, according to press releases published by both companies.

LSEG technology Millennium Exchange will be the provider of prices, data and information for the AAX digital asset exchange. “Selection demonstrates ability of LSEG Technology’s low-latency, resilient and scalable matching engine to support new markets and asset classes,” says the press release published by the LSEG.

AAX will become the first digital asset exchange platform to use the LSEG Millennium Exchange matching engine. The first crypto venue, but LSEG Technology already “delivers innovative financial services technology to over 40 capital markets organisations globally, including LSEG, HKEX, JSE and SGX.”

World Renowned Within the Crypto Sphere

The LSEG implementation for AAX will take the crypto exchange industry into a new level of industrial backing as LSEG is one of the most respected technology providers in the investing industry.

“We are delighted to have been selected by ATOM to provide a best-in-class technology solution to help power its new exchange,” Ann Neidenbach, CIO, LSEG Technology said. “It underlines Millennium Exchange’s reputation for performance, scalability, flexibility and reliability and we look forward to working with the AAX team ahead of the launch in H1 2019.”

In the same line, ATOM Group highlights the importance of bringing this “world-class institutional-grade technology” into the crypto industry. “The adoption of LSEG Technology’s Millennium Exchange platform for AAX represents an innovative move to embed institutional performance and best practice into the emerging digital asset marketplace.”

LSEG will provide AAX with Institutional-grade technology as used by global exchanges such as LSEG, HKEX and SGX; scalable, compliant platform as used by world-class regulated markets; and industry standard process and operational excellence.

Finally, ATOM also commented that global security company Kroll will work in the cybersecurity of AAX. The Manhattan-based company will ensure that “the highest levels of security are embedded throughout operational processes and technical solutions” in the platform.

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