Kyle O’Connor

June 12th

Crypto Derivatives and Exchange Traded Products

Product Development Specialist
My most recent work has been focusing on researching the ins and outs of the cryptocurrency space and providing strategic advice to our business unit teams at Nasdaq. This consists of four unique businesses, all of which require a dedicated strategy:
- Global Trading & Market Services: In this business unit I have been working with the digital asset team from VanEck/MVIS to create a futures product. I have kept a close eye on the CBOE/CME products, their volumes, market sentiment, and regulator feedback and we have used these knowledge sources to create an index that we think reflects the crypto market more appropriately than the products currently available. The ultimate goal in this endeavor is to list an ETF, based off of the futures product. We are also in design study phase of trading native cryptoassets on a Nasdaq branded marketplace.
- Global Information Services: This division of Nasdaq is where our data and indexing teams sit. On the indexing side, I have assisted in cultivating relationships with MVIS and Fundstrat to distribute cryptocurrency specific indices. With the data group, I have provided guidance on how best to analyze cryptocurrency data, developed a matrix of how to evaluate data sources, and have workshopped creative ways to add cryptocurrency data to our product suite.
- Market Technology: Our market technology business has looked at the cryptocurrency market from two angles. The first angle is doing a design study on how we can provide matching engine technology to existing exchanges, allowing these companies to scale more effectively. The market technology group also has a long list of cryptocurrency players in line to use our SMARTs surveillance technology platform, with Gemini being the first to announce that they will be implementing this service.
- Nasdaq Private Market/Listings: With the trend of “security tokenization”, I have collaborated with the Nasdaq Private Market team to evaluate if we have an opportunity to provide episodic liquidity in these assets to our existing NPM customer base. Using this platform for seed stage companies and projects could allow for a natural internal growth to our Listings business.