ATOM platform to be powered by LSE engine
Hong Kong-based ATOM Group is gearing up to launch AAX crypto exchange based on the Millennium Exchange bid matching technology provided by the London Stock Exchange (LSE).
According to the LSE Group press release, the new platform will be launched in H1 2019 becoming the first crypto exchange that will apply LSE bid matching technology.
Pursuant to ATOM Group CEO Peter Lin, the Millennium Exchange will allow for creating a platform that will enable retail and institutional customers to enjoy safe cryptocurrency transactions and will ensure scalability and regulatory compliance. Besides, AAX will also offer OTC trading service, as it was stated on the company website.
"Trust is at the heart of ATOM’s philosophy and we are delighted to be working with LSEG Technology to deliver a core part of our new digital asset exchange...The AAX exchange will allow investors to trade all major digital assets with greater levels of fairness, transparency, and performance," commented Peter Lin.
Along with ATOM project, the LSE Group tools, including Millennium Exchange technology, have been also applied to different major trading platforms, like the Stock Exchange of Hong Kong Limited (SEHK), the Johannesburg Stock Exchange (JSE), the Singapore Exchange (SGX), and the global broker TP-ICAP.
The security at the platform will be provided by UK-based Kroll company, as the company noted.
For reference, some exchanges developed their own solutions, others resort to using services provided by third-parties. In November 2018, for example, a major European exchange - Bitstamp - replaced its own security engine with a new Cinnober trading system. The company also introduced an Irisium platform to track suspicious activity and market manipulations.
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23 January, 2019 13:04
← Bithumb on track to become publicThe largest South Korean crypto exchange Bithumb announced its intention to become a public company in the USA, according to the press release. Targeting the US listing, Korean exchange applied to a reverse takeover transaction. For the purpose, a letter of intent was signed by Blockchain Industries, a public company, and Singapore-based BTHMB Holdings, Bithumb's major shareholder. The latter purchased a controlling stake in Bithumb for $350 million in autumn last year.
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