Deutsche Boerse's Tessler Says `Deep at Work' on Bitcoin

Deutsche Boerse's Tessler Says `Deep at Work' on Bitcoin

(Bloomberg) -- Deutsche Boerse AG is evaluating whether to offer cryptocurrency products, Jeffrey Tessler, the company’s head of clients, products and core markets, told an industry event Wednesday.

The German company could only look on last year as U.S. rivals Cboe Global Markets Inc. and CME Group Inc. started Bitcoin futures to great fanfare. No major European exchange felt able to follow suit, mindful of regional authorities’ cautious approach to regulating the nascent market.

“Before we move forward with anything like Bitcoin we want to make sure we understand the underlying transaction which isn’t the easiest thing to do,” Tessler said at an event in London organized by the Association for Financial Markets in Europe. “We are deep at work with it,” Tessler said, acknowledging that the group is “not at the same stage” as CME.

Before moving forwards with anything like Bitcoin, Tessler said, “we want to understand the volatility and make sure clients are in line and make sure regulators are in line.”

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