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16 November 2019

Asia's Bakkt? AAX Rolls Out Crypto Trading With London Stock Exchange Tech

Asia's Bakkt? AAX Rolls Out Crypto Trading With London Stock Exchange Tech


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AAX Rolls Out Crypto Trading on London Stock Exchange Tech.

AAX, a Hong Kong-based cryptocurrency exchange that uses the London Stock Exchange (LSE)’s matching engine technology, has officially launched.

After 19 months of development and testing, the company said on Thursday that the exchange platform has gone live on web and mobile, targeting retail and institutional investors with spot, futures and over-the-counter peer-to-peer trading.

The LSE said previously that AAX would be the first crypto exchange to utilize its Millennium Exchange matching engine, which also powers major equity markets like the London one itself and the Hong Kong Stock Exchange.

Chan said he believes the partnership with the LSE will expedite the process of on-boarding institutional clients especially from the traditional financial sector for AAX’s spot and futures services.

AAX’s launch comes just a day after the Hong Kong Securities and Futures Commission (SFC) released a warning on exchanges that offer cryptocurrency futures trading in Hong Kong.

The SFC has not licensed or authorized any person in Hong Kong to offer crypto futures and added given the risks associated with this type of products, it “would be unlikely to grant a license or authorization to carry on a business in such contracts

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