London Stock Exchange sells trading tech to crypto exchange for first time

The London Stock Exchange (LSE) has sold trading tech to a digital asset marketplace based in Hong Kong.

The AAX digital asset exchange is adopting the Millennium Exchange platform from London Stock Exchange Group Technology (LSEG Technology).

AAX says the move represents an innovative move to embed institutional performance and best practice into the emerging digital asset marketplace.

AAX is set to launch in the first half of this year and is the first digital asset exchange to be built using the technology.

The company claims it will reassure investors as digital asset markets globally face fears over security, market manipulation, and unreliable peak-period performance.

Ann Neidenbach of LSEG Technology said: “We are delighted to have been selected by ATOM to provide a best-in-class technology solution to help power its new exchange.

“It underlines Millennium Exchange’s reputation for performance, scalability, flexibility, and reliability, and we look forward to working with the AAX team ahead of the launch in H1 2019.”

Peter Lin, CEO of AAX’s parent company ATOM Group, added: “The digital asset marketplace faces a critical need for more industry best practice in order to build greater investor confidence.

“AAX will leverage LSEG Technology’s platform and expertise to deliver a world-class exchange that provides fair, trusted, and secure digital asset trading for all.”