German stock exchange operator Deutsche Boerse said it is “deep at work” examining whether to offer cryptocurrency products, Bloomberg reports May 23. The company’s head of clients, products and core markets Jeffrey Tessler told audience members that the company was busy “understanding” the technology behind Bitcoin before “moving forward” with it.
The German company could only rely on the past year when US competitors Cboe Global Markets Inc. and CME Group Inc. launched BTC futures to great success.
“Before we move forward with anything like Bitcoin we want to make sure we understand the underlying transaction which isn’t the easiest thing to do. We want to understand the volatility and make sure clients are in line and make sure regulators are in line.”
“We are deep at work with it,”
The Deutsche Boerse is one of the 10 world’s largest stock exchanges based on the value of the companies listed on it. The NYSE and Nasdaq, the latter of which is apparently open to the idea of one day opening a cryptocurrency exchange, meanwhile are the first and second largest respectively.
Tessler also didn’t properly state the interest or plans relating to offering specific Bitcoin products, but acknowledged that DB was “not at the same stage” as its US rivals CBOE and CME, both of which launched BTC futures last December.
Those comments come after reports in December that the German exchange was considering offering Bitcoin futures contracts, but also weighing the potential problems with offering them.
At the time of writing, Bitcoin is trading at $7,736.
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