Crypterium logo

Atom Becomes the First Crypto Exchange to Use London Stock Exchange’s Software

January 25, 2019

Atom Group, a cryptocurrency exchange, has agreed to a deal with London Stock Exchange (LSE) to use their Millennium Exchange software, Bloomberg reports.

The Hong Kong-based exchange will thus power its AAX exchange with the LSE matching engine, as it becomes the first exchange to use such technology in the crypto industry.

AAX exchange platform is scheduled to go live by the end of June 2019. Previously, Hong Kong and Singapore stock exchanges agreed to use LSE’s software.

It is understood that such a move is a result of the tightening new rules set by Hong Kong’s regulatory agency. It is also an apparent move to bring a more regulatory approach to the crypto industry.

Lorne Chambers, global head of sales and marketing for LSEG Technology says:

“Investors are demanding greater safeguards and Atom will be able to leverage the mainstream functionality that already exists”

According to Chambers, the LSE doesn’t hold any interest in Atom Group. Atom exchange was co-founded by Peter Lin in 2018. Previously, he founded Cinera, a startup focused on developing home theater systems based on virtual reality.

Peter Lin, co-founder and CEO of Atom

Lin said about the partnership with the LSE:

“One of the things we need moving forward is to bring in more technology from regulated markets to make sure this is safer for investors”

In November 2018, Hong Kong’s securities regulator announced a set of new rules targeting the emerging crypto exchange industry. One of the major new provisions notes that a license must be provided to a fund a manager who invests more than 10 percent of their portfolio in digital assets.

Ashley Alder the chief of the Securities and Futures Commission of Hong Kong says:

“The market for virtual assets is still very young and trading rules may not be transparent and fair”

Hong Kong has emerged as one of the world’s largest hubs for crypto exchanges as major players such as Binance, OKEx, and BitMEX found their home in the former British colony.

Join our Telegram news channel or other social media to stay updated!

Website ๏ Telegram ๏ Facebook ๏ Twitter ๏ BitcoinTalk ๏ Reddit ๏ YouTube ๏ LinkedIn

Share



Sign up for the latest updates



Follow us on social media and join Telegram Chat

We'd like to know you better to share only the most relevant news with you. Please fill in the form below

Get the first global crypto card

Join the first lucky users, and start using crypto in everyday life with the same ease as cash

Pre order card