Move Over Small-time Bitcoin Exchanges—Wall Street has arrived | Ars Technica

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Perseus Telecom and Atlas jointly launched their new high-speed trading platform for Bitcoin and likely other cryptocurrencies in the future. Perseus is a firm that specializes in high-speed financial data networks, while Atlas is a relative newcomer to the Wall Street scene since starting in 2013.

The platform’s debut puts Bitcoin trading much closer to the modern world of automated and secure trading. Atlas deals will have a matching speed of 30 millionths of a second. Modern trading firms colocate their systems as physically close to the “matching engines” as possible as a way to gain a few milliseconds of edge over others.

“Perseus offers high precision trading access in colocation centers worldwide, and adding Atlas as a new and highly liquid platform is an immediate response to customers demanding Bitcoin trading,” Perseus CEO Jock Percy said in a statement. “The Perseus Digital Currency Initiative is providing governance strictly supporting KYC (Know Your Customer) and AML (Anti-Money Laundering) principles.”

The two firms have founded what they call the “Digital Currency Initiative,” aimed at creating a set of industry-wide guidelines. The end goal is to reach “high precision trading standards executed each day by leading market makers, hedge funds, and investment banks.”

via Move over, small-time Bitcoin exchange startups—Wall Street has arrived | Ars Technica.


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