This article originally appeared in The Trade.
LSEG partner platform will provide AAX with access to the exchange group’s institutional client network.
Cryptocurrency exchange AAX has become the first digital asset trading venue to join the London Stock Exchange Group’s (LSEG) partner platform.
Founded in 2018, AAX recently launched its crypto trading platform for over the counter (OTC), spot and futures trading, servicing both retail and institutional investors.
The firm was also the first digital asset exchange to be built on LSEG’s Millennium matching engine earlier this year, which also provides services to the London Stock Exchange, Hong Kong Exchanges & Clearing and Singapore Exchange.
“We set out to build an exchange that would be both easy-to-use and accessible to retail traders, as well as being fast enough and robust enough to meet the regulatory, compliance and performance requirements for institutional investors,” said Thor Chan, CEO of AAX.
“This further step in our relationship with London Stock Exchange Group will facilitate the onboarding of institutional clients onto our platform and is a great step forward for both AAX and the crypto industry at large.”
LSEG’s partner platform provides firms the ability to expand services with access to institutional clients in Europe, North America and Asia across the exchange group’s Global Innovation Network. LSEG’s community of buy- and sell-side firms, data and technology vendors, will gain direct to AAX through existing connections to the markets operator for simplified onboarding.
“By joining this [partner platform] innovative initiative, the AAX digital asset trading venue can benefit from LSEG’s extensive experience in enabling business partners to bring their financial applications closer to the trading community, by leveraging our global network of clients and mission critical connectivity infrastructure,” added Nigel Harold, group head of global business services at LSEG.