Bcause has achieved a tremendous coup by collaborating with Nasdaq to deploy relevant mechanisms, clearing, and market surveillance technology, as announced on the Nasdaq website on March 13, 2019. As soon as they receive CTFC approval for trading in derivatives and derivatives, they will be the only company in the world that is involved in all levels of the cryptocurrency system.
Big news
Over the past few years, Nasdaq has openly demonstrated its commitment to cryptocurrency. In February 2019, they announced that they would add bitcoin and Ethereum indices to their platform, and in December 2018 they invested in ErisX.
Now their technology will be used to help crypto trading company Bcause. On March 13, 2019, it was announced that Bcause, the creator of the world's first full-stack cryptocurrency ecosystem, will use the NASDAQ matching mechanism, the technology of clearing and market monitoring through the Nasdaq Financial Framework.
Technical partnership
According to the press release, Bcause will start using this technology in the first half of 2019, when they introduce their Bcause spot cryptocurrency market. In addition, they applied to the Commodity Futures Trading Commission (CFTC) to become a designated contract market (DCM) and establish a Derivatives Clearing Organization (DCO).
This is very important, because when trade and clearing of derivatives begins, Bcause will officially become the only company in the world that offers services at all stages of the cryptocurrency pricing system. This will include crypto mining, spot trading, clearing derivatives, trading, and so on.
The surveillance technology offered by Nasdaq is a huge breakthrough because it ensures that the surveillance protocols used properly match the needs of the cryptocurrency market. In addition, they will be able to detect manipulative actions that will make trading more transparent and designed for all participants.
Fred Gred, CEO of Bcause, said in a press release that his company has access to this technology. He also noted that this would help attract various classes of investors; those that are already involved in the financial market and are familiar with Nasdaq operations, and those who would be interested in joining the cryptocurrency.
Paul McKeown, senior vice president and head of market operators and new markets for Market Technology at Nasdaq, said:
“Bcause methodically built a unique ecosystem that gives investors, partners and market players a holistic experience in using the cryptocurrency market and value chains”,
He also added that using Nasdaq technology will help improve their scalability and modular functionality that will help them meet the growing needs of the digital assets economy.
