The London Stock Exchange Group (LSEG) Technology powered-exchange, AAX exchange, introduced its Stop Loss/ Take Profit (SL/TP) features on Monday, July 22nd 2020. The exchange aims to improve their customers trading experience by making it easier to manage their trading risk.
AAX exchange is the first high powered crypto trading matching system by the LSEG Technology offering its users an instantaneous settlement and low fees enticing high frequency traders.
Customers on the trading platform started to use the stop loss and take profit features on their positions starting July, 20th, 8 AM UTC.
Risk Management tools
The take profit and stop loss features allows users on exchanges to trade efficiently even when away from the screen. The SL feature on AAX enables traders to minimize their loss when the market hits a certain price, set by the user. The position is then closed with a swift market order.
TP feature allows traders to set a price that the trade closes when in profit to avoid losing profits gained. It locks in profits once a rally is followed by a significant downturn. On AAX, both tools can be used at the same time.
The tools manage risk especially for volatile assets such as cryptocurrencies and gives traders some breathing space off the screen. To learn more on SL/TP features on AAX exchange.