LSE Millennium platform for AAX crypto-currency trading
ECONOMYNEXT – The London Stock Exchange group (LSEG) has entered the cryptocurrency market with the adoption of its Millennium Exchange matching engine to power the backbone of Hong Kong-based digital asset exchange, AAX.
The trade matching engine, developed by LSEG Technology, which has an operation in Sri Lanka, is the first such cloud-based platform and is capable of handling up to hundreds of thousands of transactions per second at an average latency of under 500 microseconds.
A statement said the AAX deployment will be the first time that the matching engine has been used in a 24-hour trading environment and deployed onto a cloud computing platform.
“Millennium Exchange’s low latency, resilient, and scalable matching engine provides market- leading performance and reliability,” it said.
“The deployment extends Millennium Exchange’s asset class coverage to crypto currency pairs and futures on crypto currency.”
Ann Neidenbach, chief information officer, LSEG Technology said the move demonstrates the opportunities for its technology outside traditional marketplaces and in the cloud.
“AAX is setting the standard for the next generation of cryptocurrency exchanges, offering much higher levels of trust, integrity, performance and security than has previously been available to retail and institutional investors,” Thor Chan, chief executive and Co-Founder of AAX said.
AAX is part of Atom International Technology Limited, a specialist in decentralized blockchain solutions using leading-edge digital technology. Based in Malta with technology operations in London and Hong Kong, AAX provides trading across a wide range of cryptocurrencies and digital assets.
(COLOMBO, 07 November 2019)