New Hong-Kong Exchange to Use LSEG Matching Engine Tech.

Jan 23, 2019 at 15:52 Update Date :Jan 23, 2019 at 15:52 UTC

In a recent development, the Millennium Exchange matching engine technology, owned by the London Stock Exchange Group’s technology solutions provider, LSEG Technology, will be used by a new Hong-Kong Exchange for operating their trading platform.

LSEG Technology announced the news on Jan.22 via a press release.

The launch is scheduled for the first quarter of 2019.

The new exchange-AAX, part of the global fintech firm, ATOM group, is reportedly the first to implement the Millennium Exchange matching engine technology.

The Millennium Exchange technology is supposedly a low latency and scalable matching engine, already in use at nearly 40 financial markets globally, including the likes of London Stock Exchange Group, Singapore Exchange and  Johannesburg Stock Exchange.

The CEO of the Hong-Kong ATOM Group, Peter Lin, said of the partnership that his firm will strive hard to create an environment for “safe, trusted and secure digital asset trading for all.”

Ann Neidenbach, CIO, LSEG Technology said that having been chosen by ATOM to work with their exchange, demonstrates “Millennium Exchange’s reputation for performance, scalability, flexibility and reliability.”

Like many of its fellow regulatory bodies around the world, Hong-Kong’s regulator, the Securities and Futures Commission (SFC), is looking to draft a legal framework which could be used to regulate crypto exchanges and crypto service providers.

In a statement quoting the SFC Chairman, made last October:

“We need to see if and how these [digital assets trading] platforms can be regulated to a standard that is comparable to that of a licensed trading venue, while at the same time ensuring investors[‘] interest[s] are being protected.”

This statement followed a release of details by the SFC describing how the proposed regulations would work and how they would deal with trade involving cryptocurrencies.

Hong-Kong’s legal experts have issued a warning stating that regulations may prove to be an inhibiting factor for new starting firms in the crypto market.

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