The LSE Group announced Tuesday that its Millennium Exchange matching engine has been chosen to power AAX, a new exchange platform being launched by Hong Kong-based fintech firm ATOM Group.
AAX is scheduled to be launched in the first half of this year and will be the first crypto exchange to use the matching engine product, according to the LSE.
According to a separate statement from the ATOM Group on Tuesday, the LSE Group also provides tech solutions to the Hong Kong Stock Exchange (HKEX) and Singapore Exchange (SGX).
ATOM Group CEO Peter Lin said that Millennium Exchange will help AXA build a platform that ensures “safe, trusted and secure” trading for both retail and institutional investors. It will also enable AAX to provide a “scalable” and “compliant” crypto trading platform, the firm said.
For security solutions to protect the upcoming exchange, ATOM Group said it will partner with the U.S.-based cybersecurity firm Kroll.
Crypto trading platforms are increasingly looking to source their infrastructure from traditional stock exchange companies.
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