AAX Crypto Exchange Is First To Use Millennium Exchange Technology
The AAX trading platform, which the Hong Kong financial and technological firm ATOM Group plans to launch soon, will begin to use the Millennium Exchange bids matching a technology from the London Stock Exchange (LSE) in its business, according to a press release.
The LSE representatives report that AAX will be the first cryptocurrency exchange to apply this financial solution. In the future, it is assumed that the technology will be used throughout the world as the basis for the work of crypto exchanges. The launch of the AAX trading platform is scheduled for the first half of 2019.
The philosophy of the ATOM Group's work is primarily based on trusting relationships, Peter Lin, the company's CEO, stated. He believes that the Millennium Exchange technology will help create a trading platform that will enable institutional and retail customers to make secure cash transactions.
AAX will allow investors to trade the most liquid cryptocurrencies with a high level of transparency and performance. Moreover, the platform will offer users over-the-counter trading in digital assets.
Technological solutions of LSE are used by many leading companies, including the stock exchanges of Hong Kong, Johannesburg, Singapore, and others.
The security issues of crypto exchanges are attracting increasing attention from the market participants. Earlier, Nasdaq, an American stock exchange, announced the possibility of solving problems of the crypto sphere, suggesting to use its financial and technological solutions.