Hong Kong-based global fintech firm Atom Group has selected an institutional-grade technology from London Stock Exchange Group Technology (LSEG Technology) for its AAX digital asset exchange.
Image: Atom has selected LSEG Technology's platform for AAX digital asset exchange. Photo: courtesy of mapichai / FreeDigitalPhotos.net.
Slated to be launched in the first half of 2019, AAX is claimed to be the first digital asset exchange based on LSEG Technology’s Millennium Exchange matching engine, which will help embed institutional performance and best practice into the digital marketplace.
Millennium Exchange also offers technology services to London Stock Exchange and other global venues such as HKEX and SGX.
AAX will enable to trade spot and futures markets for cryptocurrencies, as well as various tokenized assets such as securities tokens, asset backed tokens and stable coins.
LSEG Technology CIO Ann Neidenbach said: “We are delighted to have been selected by ATOM to provide a best-in-class technology solution to help power its new exchange.
“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.”
Atom Group has selected LSEG Technology based on recent Securities and Futures Commission guidelines for cryptocurrency trading in Hong Kong.
The deal will allow AAX to offer scalable and compliant platform, industry standard process and operational excellence.
AAX platform will also leverage global security leader Kroll for cybersecurity, enabling to embed advanced security across operational processes and technical solutions.
Atom is also planning to introduce AAX Pro, which is a professional-grade trading platform for institutional clients with low latency connectivity and colocation services.
Atom Group CEO Peter Lin said: “The digital asset marketplace faces a critical need for more industry best practice in order to build greater investor confidence. AAX will leverage LSEG Technology’s platform and expertise to deliver a world-class exchange that provides fair, trusted and secure digital asset trading for all.”
Established in 2018, Atom Group provides integrated business solutions in fintech, distributed ledger technology (DLT), digital asset management, digital asset exchange (AAX), and blockchain solutions.
AAX will enable to trade spot and futures markets for cryptocurrencies, as well as various tokenized assets such as securities tokens, asset backed tokens and stable coins.