Germany’s Largest Stock Exchange “Deep at Work” With Bitcoin

News | May 25, 2018 By:

Deutsche Börse, the operator of the Frankfurt Stock Exchange, is considering adding cryptocurrency products to its offerings.

Deutsche Börse is a marketplace organizer for the trading of shares and other securities. It is also a transaction services provider. It gives companies and investors access to global capital markets. The group’s Frankfurt Stock Exchange is one of the world’s largest trading centers for securities. With a share in turnover of around 90 percent, it is the largest of the German stock exchanges.

During an event hosted by the Association for Financial Markets in Europe on Wednesday, Jeffrey Tessler, CEO of the post-trade services provider owned by Deutsche Börse Clearstream, said the group is examining its options for launching cryptocurrency procducts.

“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,” Tessler said. “We are deep at work with it.”

Tessler, however, acknowledged that Deutsche Börse is “not at the same stage” as the Chicago Mercantile Exchange (CME) and Chicago Board of Options Exchange (CBOE), which both launched bitcoin futures trading last year. He said his team will study cryptocurrency volatility and make sure regulators are “in line” before any major moves are made.

In March of this year, the Frankfurt-based exchange group partnered with liquidity management company HQLAx to develop a securities lending solution using R3’s Corda blockchain platform.