Tera Group, which operates the first regulated U.S. Bitcoin derivatives exchange, announced the appointment of former NYSE CEO Duncan Niederauer as an advisory director. The stock exchanges have been warming up to the cryptocurrency lately: after NYSE invested $75m in Coinbase, the Nasdaq announced that Noble Markets will use its X-stream trading technology.
Before joining NYSE in 2007, Niederauer was managing director and co-head of the Equities Division Execution Services franchise at Goldman Sachs. “This is an excellent opportunity to contribute to the growing Tera footprint. They are a young derivatives exchange with a great management team and a strong product and sales pipeline,” said Niederauer. “I have already begun advising them on how to approach and capture the opportunities that are emerging in the rapidly evolving global financial landscape for traditional and emerging financial products, such as bitcoin.”