Nasdaq makes trading platform sale to bitcoin startup

Nasdaq makes trading platform sale to bitcoin startup

Nasdaq has made its first trading technology platform sale to a bitcoin-based digital currency startup.

Nasdaq's X-stream trading technology system, which is currently used by more than 30 exchange-trading venues globally, will be implemented by New York-based Noble Markets to power its up-and-coming digital currency marketplace.

Noble Markets founder and CEO John Betts previously headed the development of electronic trading platforms at Goldman Sachs, Morgan Stanley and UBS.

"Noble was founded on the principal of bringing credible market structure and institutional trading expertise to the cryptocurrency marketplace. All customers demand a fair and orderly market, the best possible pricing and confidence trades will be completed efficiently," he says. "We are excited that Nasdaq shares our vision and commitment to support the development of this ground-breaking market. Our Marketplace, powered by X-stream, allows us to leverage a proven and trusted venue that supports global trading worth billions of dollars reliably, every day."

Noble's marketplace platform is being positioned as a liquidity provider for other institutional market participants, including cryptocurrency and bitcoin exchanges.

The technology exchange cements the growing relationship between bitcoin and Wall Street and follows the New York Stock Exchange's recent investment in Coinbase, which earlier this month added support for the FIX protocol for order management by professional traders.

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