Cryptocurrency Trading Coming to NASDAQ

Cryptocurrency Trading Coming to NASDAQ

Cryptocurrency Trading Coming to NASDAQ


Nasdaq Inc. (NASDAQ:NDAQ) declared Wednesday that is is open to launching a cryptocurrency exchange in the future as the regulatory environment evolves, the head of the exchange operator said.

The view that cryptocurrencies, such as Bitcoin will be a future way to support commerce is becoming more mainstream, Nasdaq’s CEO, Adena Friedman, said in an interview following the announcement of better-than-expected Quarterly earnings.

Currently, Bitcoin is trading at: $9,015.8447, -414.15, or -4.39%, as of 8:34p BST, the market is open

But the virtual currencies are still very lightly regulated. That is part of the appeal to many early adopters but would have to change in order for Nasdaq to operate a cryptocurrency exchange,  she said.

“Over time, if it ultimately does morph into a regulated environment, it does give us an opportunity to participate as a marketplace, but I think that is a longer road and it doesn’t have a certain path right now,” she said.

Nasdaq is exploring deals with several virtual currency exchanges to provide market infrastructure technology for trading and clearing, as well as surveillance, she said.

Wednesday the firm announced a surveillance deal with Gemini Trust Company to monitor cryptocurrency trading on its exchange for potential market manipulation and fraud.

Nasdaq’s net income in Q-1 rose to $177-M, or 1.05/share, from $168-M, or 99/share, a year earlier, helped by a volatility-driven rise in trading volumes.

Symbol Last Trade Date Change Open High Low Volume
NASDAQ:NDAQ 86.04 25 April 2018 -0.21 86.32 87.93 85.94 374,281
HeffX-LTN Analysis for NDAQ: Overall Short Intermediate Long
Bullish (0.34) Neutral (0.23) Bullish (0.41) Bullish (0.39)

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Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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