- AAX’s next-generation cryptocurrency exchange gives retail and institutional investors access to institutional-grade trading performance with LSEG Technology’s Millennium Exchange™ matching engine
- High-speed, secure and reliable platform for OTC, spot and derivatives trading of cryptocurrencies provides seamless retail and institutional investor onboarding in critical step to institutionalizing the digital asset class
HONG KONG , CHINA – Media OutReach – 7 November 2019 – AAX, the world’s first cryptocurrency exchange powered by LSEG Technology, has launched today and is offering investors greater levels of trust, integrity, security and performance when trading in cryptocurrency OTC, spot and derivatives products.
The AAX platform lists more than 50 crypto-to-crypto trading pairs, as well as five perpetual futures trading contracts offering up to 100x leverage for Bitcoin, Ethereum, Litecoin, EOS, and XRP contracts. For cash investors, AAX also provides an OTC platform, which first time cryptocurrency investors or investors looking to increase their exposure to cryptocurrency assets can convert from US dollar, Renminbi and Hong Kong dollars.
AAX, which will be open for trading 24 hours a day and seven days a week, will use the LSEG Technology’s Millennium Exchange matching engine to power the backbone of the exchange. LSEG Technology is London Stock Exchange Group’s (LSEG) technology solutions business used across LSEG and other global client trading venues. The matching engine is capable of handling up to hundreds of thousands of transactions per second at an average latency of under 500 microseconds, delivering investors, performance levels on a par with traditional financial markets. As part of the AAX deployment, it 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.
AAX combines speed, security, reliability with seamless market access for retail and institutional investors. With operations in the heart of Asia, currently the world’s largest and most active cryptocurrency trading region, AAX is the first institutional grade crypto trading platform from the region. Retail investors will have access to an integrated account to view their OTC, Spot and Futures positions, while Institutional Investors will be able to connect directly with the exchange using FIX and Binary interface protocols. In future, AAX plans to offer a range of tokenised assets including securities tokens, asset-backed tokens and stablecoins.
“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,” said Thor Chan, CEO and co-founder of AAX. “The combination of LSEG Technology’s matching engine with the highest standards in compliance and security protocols, position AAX as the only institutional-grade exchange in Asia serving the world’s most active and fastest growing crypto-currency markets.”
“LSEG Technology is delighted to have successfully deployed our world class matching engine capabilities at AAX. This is the first time that Millennium Exchange has been deployed in the cloud, bringing its, scalability, flexibility, reliability and seamless direct market access to AAX,” said Ann Neidenbach, CIO, LSEG Technology.
AAX is built from the ground-up with world-class technology platforms.
- AAX’s deployment of LSEG Technology’s matching engine is capable of processing large volume orders with latencies as low as 90 microseconds with an average latency of under 500 microseconds, at a rate of hundreds of thousands of transactions per second.
- Simple and fast onboarding with direct market access to LSEG matching engine for institutions via FIX and binary protocols.
- Highly secure and scalable core systems with world-class global cloud infrastructure and partnership with Kroll for best-in-class security frameworks and tools
- Industry-leading KYC/AML procedures and market monitoring capabilities from data and information provider Refinitiv and blockchain analytics provider Elliptic
AAX is built for the rapidly changing future of regulatory-compliant digital asset markets.
“We are at a unique point in time where both retail and increasingly institutional investors are directly interacting in a dynamic cryptocurrency landscape,” said Chan at AAX. “This requires both an institutional-grade trading platform but also a level of flexibility to innovate to meet changing regulatory needs and fast-moving market needs.”