London Stock Exchange's Millennium Exchange Matching Engine to Power ATOM Group's New AAX Trading Platform

A new Cryptocurrency exchange is opening in Hong Kong but will have a cutting-edge twist to it. It will make use of the same trade-matching technology that is used by the London Stock Exchange (LSE).

The technology in question is the Millennium Exchange matching engine and it was announced on January 22, 2019, that it will be deployed on AAX, a new Cryptocurrency exchange that is being launched by ATOM Group, a fintech firm based in Hong Kong.

The Exchange

AAX, which is scheduled to be launched in the first half of 2019, will the first in the world to make use of the Millennium Exchange matching engine.

This isn’t the first time that the matching engine is being used in exchange besides the London Stock Exchange as it has also been used in the Hong Kong Stock Exchange (HKEX) and the Singapore Exchange (SGX).

However, this is the first time a Cryptocurrency exchange specifically is making use of it
and this could help set a new world-class industry standard.

According to the statement by ATOM Group, the use of this tech will enhance the performance of the exchange when it is launched.

“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,”

the statement said.

The exchange will act as an institutional grade platform for investors and there are plans to follow the newly created Securities and Futures Commission guidelines for cryptocurrency trading in Hong Kong.

This is imperative as in order to attract the institutional-level investment that crypto exchanges need, the investors need to have confidence that all laws are being followed and with stricter regulations put in place, compliance is key.

“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.

Besides compliance with laid-down government regulations, the exchange will also take measures to ensure the security of the exchange by gaining the services of Kroll, US-based security. This is particularly important in light of the hacks that have taken place at various exchanges in the last year, with hundreds of millions of dollars being lost in the process.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Compound Protocol to Roll Out Decentralized Oracles Dubbed ‘Open Price Feed'

Compound, one of the most popular defi protocol, is all set to introduce open price feeds for lending on its platform using a decentralized...

$2 Million Slippage & Surge in Ether Price on Uniswap Helps Net $40k in Profit

A Uniswap user was able to profit $40,000 thanks to $2 million of slippage and the price of Ether surging north of 15%. It all...

Irish Govt to Target Cryptocurrencies Use in Money Laundering And Terror Financing

The Irish government aims to implement stricter and more stringent laws to curb money laundering and terrorism financing in its financial system, including digital...

Interactive Brokers to Settle $38 Million in Penalties for Violating AML Procedures

Interactive Brokers LLC, a U.S based brokerage that skyrocketed between 2013 and 2018, has agreed to settle a total of $38 million with the...

Ethereum Gas Price Hasn’t Been This High Since its Launch

The price of Ether is back to making its way to $400 level as it hovers around $391 in the green with just $840...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today