ATOM, a Hong Kong-based global fintech has announced that its AAX digital asset exchange is adopting world-class institutional-grade technology from London Stock Exchange Group Technology (LSEG Technology). 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.
AAX is set to launch in H1 2019 and is the first digital asset exchange to be built on LSEG Technology’s Millennium Exchange matching engine, which also provides technology services to London Stock Exchange and other global venues such as HKEX and SGX. This will enable AAX to deliver high performance, reliable and trusted services to investors who demand greater reassurance as digital asset markets globally face fears over security, market manipulation, and unreliable peak-period performance.
“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,” said Ann Neidenbach, CIO, LSEG Technology.
With growing momentum around market regulation and the need for greater market transparency, ATOM is accelerating the development of institutional-grade platforms for investors. “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,” said Peter Lin, CEO of ATOM Group.
The announcement follows the recent Securities and Futures Commission guidelines for cryptocurrency trading in Hong Kong. “With institutions such as Fidelity Investments entering the market and others also gearing up for entry, we predict the digital asset class is primed for entry by institutional and mainstream investors in 2019,” Lin added.
The agreement with LSEG Technology will enable AAX to provide:
- Institutional-grade technology as used by global exchanges such as LSEG, HKEX and SGX
- Scalable, compliant platform as used by world-class regulated markets
- Industry standard process and operational excellence
The AAX platform will also leverage global security leader Kroll for cybersecurity to ensure the highest levels of security are embedded throughout operational processes and technical solutions.