LSEG Technology, London Stock Exchange Group’s technology solutions provider, has announced that it has been picked by Hong Kong fintech firm ATOM Group to provide its trade-matching technology for ATOM’s upcoming cryptocurrency exchange AAX.
LSEG also provides various technology solutions to clients like the London Stock Exchange (LSE), Hong Kong Stock Exchange (HKEX), and Singapore Exchange (SGX).
Expected to launch in the first half of 2019, AAX will be the first digital asset exchange to use LSEG’s Millennium Exchange matching engine, which is of low latency and scalable in nature. ATOM believes that with LSEG on board, AXX will be able to create a “scalable” and “compliant” platform as used by world-class regulated markets.
Peter Lin, ATOM Group CEO, said AAX will leverage LSEG “to deliver a world-class exchange that ensures safe, trusted and secure digital asset trading for all. The AAX exchange will allow investors to trade all major digital assets with greater levels of fairness, transparency, and performance”.
ATOM will also partner with US-based cybersecurity firm Kroll to deliver users the highest levels of security.
Within Hong Kong, there have been signs from its Securities and Futures Commission (SFC) that a legal framework is being considered for crypto exchange. SFC had released details in November last year of its evolving proposal for regulation of crypto exchanges and guidelines for crypto-related funds.