11.28.2019

First Cryptocurrency Exchange Joins LSEG’s Partner Platform

  • AAX cryptocurrency exchange is the first trading venue to join London Stock Exchange Group’s global Partner Platform, giving institutional members direct market access to AAX.
  • Partner Platform expands institutional client access to AAX exchange in Europe, North America and Asia utilizing LSEG’s network infrastructure

AAX, the next-generation cryptocurrency exchange that offers over-the-counter, spot, and futures trading across a variety of digital assets, announced today that it has joined London Stock Exchange Group’s (LSEG) Partner Platform. It is the first cryptocurrency exchange to join the Partner Platform building on the existing technology relationship between AAX and LSEG. In November, LSEG deployed its Millennium Exchange™ matching engine at AAX in the first cloud-based 24-hour environment implementation of the trading solution.

LSEG’s Partner Platform offers AAX the ability to expand its 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. It 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.

Founded in April 2018, to serve both retail and institutional investors, AAX launched its platform earlier this month and yesterday held an event to mark the go-live at London Stock Exchange.

Thor Chan, CEO 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.”

Source: AAX Exchange

 

Related articles

  1. The new market provides a regulated and transparent trading environment for crypto assets.

  2. Wall Street gets a failing grade when classifying and naming crypto assets.

  3. DLT networks or tokenisation platforms have the potential to transform post-trade.

  4. Cryptoassets are tradable property and smart contracts are enforceable agreements under English law.

  5. Uncertainty for market participants limits innovation.