The German Stock Exchange has currently dug their heels in and buried their heads into Cryptocurrencies and all things associated in order to get to grips with Bitcoin. At present the operating company of the German Stock Exchange –Deutsche Boerse – is reviewing all available legislation, current models and information in order to assess whether it would be viable to offer Bitcoin as well as other Cryptocurrency-based products.
Messages From Deutsche Boerse
The message was given to the media this Wednesday when the Head of Clients Jeffrey Tessler stated that although there was a lot of dissent and debate surrounding the safety of Bitcoin and related products, that the company was in fact, considering potentially offering some of these items on the German Stock Exchange. Tessler went on to clarify that one of the main points that is paramount for them is their ability to understand how a transaction of a Cryptocurrency actually happens.
As one can imagine the pathway to understanding the mechanisms through which transactions occur within Bitcoin is not the easiest thing, but Tessler did state that it is of paramount importance. Tessler went on to add that through the full understanding of the journey of a transaction the company will be able to not only see the full breadth of legislation, both what affects it and what is missing, as well as being able to identify any possible grey areas for consumers.
Tessler noted that at present the company was thoroughly involved in the process, while speaking at a conference in London which was conducted by the Association for Financial Markets. When probed on Deutsche Boerse relative ease of use with Bitcoin as its number one competitor CME, Tessler stated that at present the company still had a ways to go and that they were not as yet as skilled or experienced with Cryptocurrencies as CME. CME is the global leader in fully legal and financially principled transactions of Bitcoin.
A Look Into Their Rivals
CME has recently reported to the media that they have begun investigations into the market over possible consumer interest into Ethereum futures. However, CME was highly proactive and began to work out the foundation for the project prior to the data even being collected. CME has already started on the creation of an Ethereum price index.
It is worth noting that at present, CME and CBOE, both American based Bitcoin exchanges for financially regulated products exist; however, there is nothing of the sort within Europe. There is a small-scale platform within England that does offer futures for Cryptocurrencies such as Bitcoin or XRP, however, Crypto Facilities is small and not on the scale of a Stock Exchange.
Moving back over to the United States, both the New York Stock Exchange or NYSE and the Nasdaq holding companies are currently holding discussions over whether they should offer Cryptocurrency based items for sale on the stock exchange. Whispers have surfaced stating that the NYSE is also considering if they should launch a crypto exchange that would only offer crypto futures from currencies of all kinds and other crypto-based products.