Perseus Telecom and Atlas ATS Team Up To Launch Worldwide Bitcoin Trading

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Perseus Telecom has teamed up with digital currency trading platform Atlas ATS to launch what has been described by the Wall Street Journal as a “globally integrated” bitcoin exchange available in New York, Singapore, and Hong Kong to large institutions and high-frequency trading companies.

Perseus will work as the exchange’s network service provider, providing the infrastructure necessary to execute speedy and high-volume trades. In fact, the exchange is said to have a matching speed of 30 millionths of a second, according to a joint statement from the two companies. In addition, the system will claim to have a 100 percent cold storage system to protect customer funds. The Atlas system has been designed for equities, futures, options, and more.

“Perseus offers high precision trading access in colocation centres worldwide and adding ATLAS ATS as a new and highly liquid platform is an immediate response to customers demanding Bitcoin trading,” Perseus Chief Dr. Jock Percy said. “The Perseus Digital Currency Initiative is providing governance strictly supporting KYC and AML principals.”

“Selecting Perseus as our exclusive global network partner allows the ATLAS ATS teams in New York, Hong Kong and Singapore to focus on maintaining first to market advantage with the most robust FIX engine for digital currency trading,” said Atlas ATS CEO Shawn Sloves. “The ATLAS ATS team is comprised of financial technology veterans, including bespoke risk control expertise, which directly impacts our ability to mitigate issues throughout the entire eco-system of the Bitcoin trading cycle.”

Currently, the Atlas system is seeing about 10,000 transactions daily as part of its soft launch. By the end of the year, they expect to see 100,000+ transactions per day.

[source:Wall Street Journal, Finextra]