MarketsMuse.com FinTech update profiles Wall Street’s trading system technology push into the next frontier: Bitcoin Exchanges. Below is courtesy of March 24 column “Legacy Exchange Players Rush To Aid Bitcoin Exchanges.”
Following news that Nasdaq will offer trading technology to Noble Markets, legacy exchanges and executives are helping to make the trading of the virtual currency very real indeed.
Another day, another step forward to Bitcoin’s road to legitimacy. Yesterday, the Wall Street Journal reported that market maker Nasdaq will provide trading technology to Noble Markets, the start-up firm that aims to allow hedge funds to trade bitcoin and “related digital-currency assets.”
[Is the Buyside Ready to Trade Bitcoin?]
Earlier in the day, news broke that former NYSE CEO Duncan Neiderauer had joined Tera Group, a bitcoin derivatives trading platform and virtual currency bourse. The former head of the Wall Street trading floor will serve as an advisory director for the newish bitcoin firm.
Wall Street is seeing real opportunities in the virtual currency. As the Wall Street Journal cites, “The New York Stock Exchange’s investment in bitcoin exchange Coinbase; regulatory approval of public trading in the Digital Currency Group’s Bitcoin Investment Fund; former J.P. Morgan Chase & Co. executive Blyth Masters’ appointment to a lead new digital-asset settlement service…” Continue reading