The London Stock Exchange Group (LSEG) has made a move into the crypto space with a deal that will see its technology deployed on a digital asset exchange based in Hong Kong.
ATOM Group said that its AAX digital asset exchange will adopt LSEG Technology’s Millennium Exchange platform as it looks to embed institutional performance and best practice into the crypto marketplace.
AAX has plans to launch in the first half of this year and it is the first digital asset exchange to be built on LSEG’s Millennium matching engine, which also provides services to the London Stock Exchange, Hong Kong Exchanges & Clearing and Singapore Exchange.
“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 of LSEG Technology.
Peter Lin, CEO of ATOM Group, added that with institutions such as Fidelity Investments entering the market and others gearing up for entry, he predicts that the digital asset class is primed for entry by institutional investors this year.
“The digital asset marketplace faces a critical need for more industry best practice in order to build greater investor confidence,” Lin said. “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.”