Frankfurt Stock Exchange May Offer Bitcoin Products
May 25, 2018
The operator of Frankfurt Stock Exchange (FWB), Deutsche Boerse, is considering the possibility of starting offering cryptocurrency products to its customers.
Deutsche Boerse's head of clients Jeffrey Tessler at an London event of the Association for Financial Markets in Europe said that the company is working on it. At the same time he assured, that any cryptocurrency-related move will not happen overnight, as it requires deep analysis of the industry.
According to Bloomberg he said:
"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 are deep at work with it."
He added, that the company is currently "not at the same stage" as CME Group, that launched trading bitcoin futures in December. Tessler said, that Deutsche Boerse needs first to understand the nature of the volatility on the bitcoin market and make sure, that the interest of the company are in line with the interest of its clients and the interest of financial regulators.
It should be noted, that first major companies to offer bitcoin products to its customers are the American financial derivatives marketplaces CBOE and CME Group, that launched trading in December 2017. Subsequently, both companies started to think about the possibility to expand their presence in the cryptocurrency market, by offering futures for other popular cryptocurrencies.