Why German Stock Exchange appears to Bitcoin and Crypto-currencies?
Frankfurt Stock Exchange parent company, Deutsche Boerse AG, appears to have begun work on technology that will allow them to offer their clients Bitcoin and crypto-currency related products.
“We are considering offer crypto-currency products: We are deep at work with it." - Jeffrey Tessler, head of clients, products and core markets for Deutsche Boerse.
Tessler is quoted in Bloomberg confirming that Deutsche Boerse is “not at the same stage” and they want to make sure that they understand the underlying transaction “which isn’t the easiest thing to do.”
Two months ago, Deutsche Boerse announced a plan to work with the financial management firm HQLAX and R3’s Corda Blockchain platform to implement a system that can offer more efficient securities settlement via a Blockchain. HQLAX and R3 already have a solution for securities lending with a large number of banks, such as ING and Credit Suisse.
Tessler added, “Before moving forwards with anything like Bitcoin, we want to understand the volatility and make sure clients are in line and make sure regulators are in line.”