Published on : Mar 24, 2015
The NASDAQ OMX Group Inc. has decided to offer the startup Noble Markets based in New York with core technology to power up the new market focused at permitting institutional investors and enterprises such as hedge funds to trade the bitcoin and associated digital-currency assets.
As published in a combined statement given to The Wall Street Journal, the Noble’s platform will utilize the X-stream trading system of the NASDAQ, which is a high-tech system for the matching orders of the market participants that is utilized by more than thirty exchanges and markets across the globe. NASDAQ will also offer marketing support.
This union follows the other Wall Street initiatives, which could pave the path for financial institutions to possess and trade digital currencies that, as told, have the potential to create the global financial system more effective. But it has also been flawed by investment scams, price fluctuations, and cyber security concerns.
Recent most developments consists of the investment of New York Stock Exchange in bitcoin exchange Coinbase, the regulatory permission of public trading in the Bitcoin Investment Fund of Digital Currency Group, the appointment of the former executive of the J.P. Morgan Chase & Co. Mr. Blyth Masters to a lead new digital-asset settlement services, and the news about the former Chief Executive of NYSE, Mr. Duncan Niederauer, who will be working as an adviser to TeraExchange, which is a bitcoin derivatives platform.
The noble chief executive, Mr. John Betts stated in an interview that he believes that involvement of NASDAQ will assist concerns of dispel investors about the risks of the trading in digital currencies.