In addition to finding the best price for a cryptocurrency, investors who are considering expanding to the crypto space are also concerned with liquidity and latency of market data.
To cater for the needs of institutional investors, AAX deploys FIX API Connectivity and MITCH protocol to provide institutional clients with access to deep liquidity and real-time continuous pricing.
Ensuring deep liquidity
The Financial Information eXchange (FIX) protocol is an electronic communications protocol released in 1992 for international real-time exchange of information related to securities transactions and markets.
The FIX Gateway message routing service developed by LSEG using the FIX Protocol is one of the most robust and universal solutions for market makers to connect in the traditional financial sector. AAX is the first cryptocurrency exchange to adopt this technology.
Leveraging on this technology enables market makers to onboard to AAX with ease, hence adding liquidity to the exchange platform.
Low-latency market data
AAX understands institutional clients want to stay ahead of the game by accessing low-latency market data. LSEG’s MITCH protocol ensures low-latency and reliable sharing of market data from LSEG’s matching engine to AAX’s connected clients.
The London Stock Exchange has unrivalled reliability with its core trading platform, and those same exact standards have been used in the design of the FIX Gateway of AAX. The system is fully fault tolerant and has a full disaster recovery system.
In addition, the uptime of the matching engine of LSEG is at 99.999%, a global standard for the world’s leading financial institutions.
Besides the support of world-class technology, the team operating AAX is also instrumental to our success. The team at AAX has a wealth of experience in trading and technology systems, including experience from some of the world’s largest investment banks and technology firms.
With this dynamic combination as the foundation, we look forward to creating an institutional grade digital asset exchange for all.
To find out more about AAX or to pre-register please visit www.aax.com.