In line with a recent official ‘press release‘ published, the tech solutions provider ‘LSEG Technology’ for the London stock exchange group, has revealed that its matching engine would be used to power the new Hong Kong-based digital assets exchange.
The upcoming crypto assets exchange — named AAX — comes from the blockchain and crypto-determined fintech firm named ‘ATOM Group’. The platform would reportedly become the primary digital assets exchange to use LSEG Technology’s so-called“Millennium Exchange,” that is a low latency and climbable matching engine already reportedly in use at standard exchanges like LSE, Borsa Italiana, the Oslo Stock exchange, along with others.
AAX — that is slated for the launching in Q1 of this year — is reportedly using the LSEG matching engine to form the premise of its core trading platform. Speaking of the deal, ATOM Group’s chief operating officer named ‘Peter Lin’ aforementioned that the technology would facilitate “greater levels of fairness, transparency, as well as performance” for crypto traders.
The licensing partnership between a stalwart market solutions provider and an emerging disruptive platform apparently aims to mitigate considerations over security, market manipulation along with high-volume performance within the crypto ecosystem.
In the Hong-Kong context, there are some recent indications from the native securities regulator, the SFC [Securities and Futures Commission], that a legal framework to control crypto exchanges is into consideration, with the SFC chairman stating last Oct. as:
“We have to see if and how these [digital assets trading] platforms could be regulated to a typical standard that’s comparable to that of a authorised trading venue, whereas at the same period of time ensuring certain investors interests are being protected.”
Even earlier in Nov., the SFC ‘revealed‘ details of its evolving planned conduct regulation for crypto exchanges, aboard tips for funds addressing cryptocurrency. As Hong Kong’s formal crypto regulative environment continues to form shape, some native lawyers have warned that new rules could prove cumbersome or maybe even harmful for new entrants to the crypto business.