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Perseus, Atlas Launch Global Bitcoin Trading PlatformSnippet from story:
High-speed telecommunications provider Perseus Telecom and digital currency trading platform Atlas ATS formally launched Wednesday a globally integrated bitcoin exchange system in New York, Hong Kong and Singapore to facilitate trading in the digital currency by high-frequency trading firms and other large financial institutions.
The two firms' collaboration, first reported last month by The Wall Street Journal, marks a milestone in the evolution of bitcoin out of a retail-oriented, loosely regulated low-tech environment to one that is open to the high-volume and strictly regulated activities of Wall Street. It comes after the sudden collapse of Tokyo-based bitcoin exchange Mt. Gox, which said it had lost 850,000 bitcoin—now worth more than $500 million—and a string of scandals, including a world-wide hacking attack that temporarily paralyzed Mt. Gox competitors such as Slovenia-based Bitstamp.
"Now, institutional investors and banks can see that there are known players with the right pedigree" engaged in bitcoin, said Jock Percy, chief executive officer of Perseus, whose high-bandwidth lines are used to connect securities exchanges around the world with institutional investors' trade execution platforms. He said Perseus's high-speed trading clients had expressed demand for such services, but needed assurances that such systems are compliant with their industry's demanding regulatory requirements, and that the systems use fast-response technology that can meet their risk-limit requirements in high volume.
