On The Move: Duncan Niederauer Joins Bitcoin Exchange

The ex-CEO of the NYSE will provide strategic advice to the bitcoin derivatives trading platform and virtual currency bourse.

Former New York Stock Exchange CEO DuncanNiederauerhas been appointed Advisory Director of Tera Group, the parent company of the TeraExchange derivatives trading platform dedicated to trading bitcoins. Last fall, TeraExchange announced plans to launch what it called “the first regulated platform for bitcoin derivatives and a spot bitcoin price index.”

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According to a press statement, “Niederauerwill draw on his immense international experience to provide the firm with strategic advice and insight on growth strategies. In addition, he will participate in select senior-level client events and conferences, as well as provide briefings on global financial trends to the firm’s Board as appropriate.”

“We’re delighted that Duncan has chosen to join Tera at this exciting time for our business,” said Christian Martin, Chairman and CEO of Tera. “Our firm operates with the same client-first approach Duncan has shown throughout his impressive career. By providing the management team and clients with his unique global perspective, he will greatly add to the knowledge and experience of our firm.”

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“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, saidNiederauer. 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.

Tera produces the Tera Bitcoin Price Index, which it claims “were created to meet the growing demand of global merchants, payment processors, miners, and hedge funds for an efficient hedging tool.”