AAX, a digital assets exchange platform headquartered in Chicago, USA, and Malta promises to enable crypto traders to execute trades with no downtime. Being the first crypto exchange to sport institutional grade LSEG technology for their trade matching engine, the platform delivers the same breakneck trade execution as some of the biggest incumbent market platforms on the globe, 24 hours a day.
Founded in 2018, by technology and financial industry veteran, as well as current CEO, Thor Chan, AAX offers traders exposure to digital assets in an institutional level package. Having been the first digital assets focused exchange platform to join the illustrious, London Stock Exchange Group’s (LSEG) Partner Platform, AAX may be an under celebrated benchmark, in what digital asset exchanges ought to offer, regarding performance, security, and regulatory compliance.
The AAX platform is powered by The London Stock Exchange’s patent LSEG technology Millennium Exchange trading infrastructure – delivering similar performance to 40+ of the world’s top capital markets (This includes, The London Stock Exchange, The Hong Kong Stock Exchange, Singapore Stock Exchange, and Johannesburg Stock Exchange, among others.) Backboned by LSEG technology, AAX boasts multiple asset support, an army of trade matching algorithms, market maker protection, and pre-trade ‘risk filtering’, all in a low-latency (virtually none) package, specially upgraded to go round the clock with almost no downtime.
Designed to withstand the rigors of digital asset trading, and enable market participation related activity that is on parr – in terms of performance – to the most traded exchange platforms in the world, 24/7. There is method to the madness, in the exchange’s approach to the technology – as well as other partnerships the firm has inked – it relies on to deliver its services. AAX, in utilizing a system designed to facilitate high volume market activity, aims to be the exchange of choice in the – as yet unrealized – crypto-centric future.
The platform’s CEO, Thor Chan, has a decorated background in leading equities, derivatives, and other trading operations in addition to stints at multinationals, Microsoft, HSBC,App Annie, and Publicis. The chief executive has gathered a similarly skilled team to aid him in positioning AAX as the premier cryptocurrency exchange platform.
The exchange’s greatest claim to glory is that trading on the platform is backboned by a world class, low-latency, high execution-speed piece of software. Not at all, hot air – as some of the biggest capital markets on earth utilize the very same infrastructure. In addition to the bells-and-whistles that come loaded on the Millennium Exchange platform infrastructure, AAX provides user friendly Over-the-Counter crypto trading, as well as – lighting quick – Spot and Derivatives trading of over 50 pairs. With user convenience a priority on the platform, AAX also sports a simple fiat-crypto onramp/offramp feature, direct to users’ bank account.
Typical of Cryptocurrency exchange platforms nowadays, AAX comes with a native exchange token, AAB. With a constantly shrinking supply, and 50-100% discounts on Spot and Derivatives trading fees, the ABB exchange token saw 9 million coins sold within 48 hours of release back in March of 2020. This, despite a serious Covid-19 influenced, worldwide stock market downturn.
In terms of partnerships, Thor Chan, and his team’s efforts have gone a long way towards positioning the exchange for more sophisticated investors. AAX stands with a top-grade set of allies to aid it with operational, and compliance focused tech that certainly sets it apart from the common crop of digital asset exchanges.
Aside from LSEG Group, AAX has formed working ties with Solidus Labs, who provide the platform with market surveillance software, aimed at spotting unsportsmanlike activity on the exchange; Money Laundering, Market Manipulation, that sort of thing. On the security front, the firm has enlisted Kroll and Refinitiv to handle customer screening, risk assessment, as well as crisis management.
The people behind the AAX exchange have developed one of the unsung gems of the crypto exchange ecosystem. The platform delivers on all of it’s promises, and then some. Users are able to perform exchange transactions – at high speed -on a smooth, user friendly platform. Perhaps, with an influx of professional traders into the crypto space, we may see AAX become one of the more talked-about exchange platforms.