An emerging crypto exchange ErisX is consolidating its leadership, as it has declared that it has appointed a markets and exchanges veteran Matt Trudeau as chief strategy officer (CSO).
ErisX will be offering spot trading in Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), alongside futures contracts in 2019 Q2, once after it gets United States regulators’ approval. Notably, the exchange has completed a funding round which raised $27.5 million from companies such as Bitmain, Fidelity Investments, ConsenSys, Nasdaq Ventures, and Monex Group.
On the other hand, Matt Trudeau has helped in ten global market roll outs including Instinet, Chi-X, IEX, and Tradewind. He started his trading career in the 2000s. Trudeau, interestingly, is also famous as one of the heroes of Michael Lewis’ bestseller “Flash Boys.”
On this appointment, Trudeau commented, “I have seen first hand the difference between market revolutions and more incremental evolutions,” adding, “Clearly, crypto markets were a bit of revolution at the outset, and now it feels more like we are at a stage where it needs to be more evolutionary.”
In his position of a CSO, Trudeau will be exploring ‘new avenues for revenue growth’ and managing the firm’s ‘market structure efforts.’ About his new role, he expressed, “There are the tactical trading aspects of what’s going on in the market right now. But you need to take the long view. Some of the best internet businesses were started after the dotcom crash.”
Moreover, the CEO of ErisX, Thomas Chippas Agreed while saying, “Would it be better if the price of crypto were generally going up? Of course, it would. But stocks have been volatile recently, too. If we were talking about equities and a stock exchange, nobody is going to say, ‘are you going to open your doors tomorrow?’”
The CEO also talked about the future in other coins regarding the exchange platform. He said, “Everything here is going to be subject to approval. But we are working with the commission [CFTC] during our application phase here and will say more about which products would launch thereafter.”