From MarketsWiki
Jump to navigation Jump to search
AAX Exchange
Aax official logo.jpg
Founded 2019
Headquarters Malta, with offices in Hong Kong, Guangdong, and Shenzen
Key People Peter Lin, Founder and CEO of Atom
Products Cryptocurrency Exchange
Twitter @Atom_Intl_Tech
LinkedIn Profile
Website AAX Homepage
Releases Company News
Blog AAX Blog

AAX is a cryptocurrency exchange based in Hong Kong. AAX stands for Atom Asset Exchange. It is operated by local Atom International Technology Limited.[1]


AAX was founded in 2018 in Hong Kong by the Atom Group. In January 2019, AAX secured a deal with the London Stock Exchange (LSE) to buy the LSE's Millennium Exchange matching system, a matching engine designed to process large volumes of orders quickly and with very low latency. At the time, the matching engine had already been in use in stock markets around the world.[2][3]

In November 2019, AAX launched, becoming the first digital asset trading platform to use the LSE's Millennium Exchange matching system. This also marked the first time that the system had been deployed in a cloud-based environment.[4][5]

On November 13, 2022, AAX halted customer withdrawals for what it called temporary “scheduled maintenance” to “address serious vulnerabilities.” Employees at the exchange alleged that the outage was caused by liquidity problems. In early December of 2022, the Financial Times reported that AAX users said the exchange had failed to process customer withdrawals and that AAX staff said they had been disconnected from the company's email systems.[6]

Products and Services[edit]

AAX offers OTC, spot, and futures trading for digital assets to both retail and institutional investors via its 24-hour trading platform. AAX lists 50 crypto-to-crypto trading pairs, as well as five perpetual futures contracts (up to 100x leverage) for bitcoin, Ethereum, Litecoin, EOS, and XRP. Its OTC desk can also convert dollars, Renminbi and Hong Kong dollars into digital assets.[7]

Using the LSE's Millennium Exchange matching engine, AAX claims the platform can handle a large number of orders at the same time with an average latency of under 500 microseconds, or 1/2000 of a second. For comparison, Binance offers special low-latency trading service for a small selection of clients trading its futures products, but its top speeds are 1/200 of a second.[8][9]