Bruno Moura, co-founder and general manager of the New York Stock Exchange, has told me that he’s looking to expand the number of digital currencies and the blockchain in order to better “understand the markets, the trading environment and [be] of assistance to the markets”.
However, he hasn’t yet fully articulated exactly how that will occur.
“There are many different approaches to that,” he told me while sitting under the arbor shade with representatives from New York’s securities regulatory body, the Commodity Futures Trading Commission, in the New York Stock Exchange’s grand lobby. “You can start by working a lot with exchanges to get a sense of their customer base. You can start by asking them for their customers list. You can do more extensive research on the way they’ve done their research and see who has what type of trading tools they use. You can build an interactive dashboard to see what is happening in terms of capital movement.”
In the meantime, however, he’s hoping to improve on the way things work at the exchange that has the most market share.
He’s going to need more than just their customers list. In fact, that’s just half his task.
At some point he wants bitcoin to become accepted as a unit of account.
“I have an important mandate and, while I can’t promise this for the next 12 months, I do think bitcoin is about time they take it,” Moura pointed out.
The exchange itself is now, quite literally, in bitcoin. The company has been involved with the currency for years, and they still keep its servers, wallet and any other transactions in bitcoin.
On the other hand, since the launch of the bitcoin’s underlying technology called the blockchain in 2009, they’ve tried to get more and more involved. They offer a trading platform for the world’s biggest banks and financial institutions, and in September 2016, they joined the Nasdaq company’s digital trading platform for public companies and other financial institutions.
As for those clients who’ve already signed up, Moura explained it’s only through the technology that they’re ready. The first thing they’ll try is to get them accustomed to using bitcoin as a means of payment. “We’re going to have to get to know them better. Once they are fully behind bitcoin, our goal is to take other parts of the platform and make them more accessible, more robust and