The cryptocurrency exchange AAX offering over-the-counter, spot, and futures trading across a variety of digital assets, has joined London Stock Exchange Group’s (LSEG) Partner Platform in order to expand services and reach institutional clients in Europe, North America and Asia over LSEG’s Global Innovation Network, a purpose-built network infrastructure to support financial services transactions.
The partnership also offers LSEG’s connected client community of investment firms, sell-side brokerages, data and technology vendors the ability to access AAX directly over their existing connections to LSEG, simplifying and accelerating the on-boarding process. It represents a significant step forward in providing a cryptocurrency exchange trading platform to institutional capital.
AAX has become the first cryptocurrency exchange to join the Partner Platform following the deployment of LSEG’s Millennium Exchange matching engine at AAX in the first cloud-based 24-hour environment implementation of the trading solution. The operator was founded in April 2018 to serve both retail and institutional investors, and the platform was launched earlier this month. AAX is a subsidiary of ATOM Group, a global fintech company based in Hong Kong with a focus on blockchain technologies and emerging digital assets.
Thor Chan, Chief Executive Officer of AAX said: “We set out to build an exchange that would be both easy-to-use and accessible to retail traders, as well as being fast enough and robust enough to meet the regulatory, compliance and performance requirements for institutional investors. This further step in our relationship with London Stock Exchange Group will facilitate the onboarding of institutional clients onto our platform and is a great step forward for both AAX and the crypto industry at large.”
Nigel Harold, Group Head Global Business Services, LSEG added: “We are delighted to welcome AAX on to the LSEG Partner Platform. By joining this innovative initiative, the AAX digital asset trading venue can benefit from LSEG’s extensive experience in enabling business partners to bring their financial applications closer to the trading community, by leveraging our global network of clients and mission-critical connectivity infrastructure.”
Michael Newell, ex-CTO at IG Group and former key member of the founding executive team at BATS Europe, joined AAX earlier this year as an advisor to the company on exchange operations matters market trends, exchange policies, ongoing monitoring of operations and institutional partnerships. AAX is the world’s first digital asset exchange to be powered by London Stock Exchange Group technology.