Tera Group, the operator of bitcoin derivatives platform Tera Exchange, has brought on former New York Stock Exchange (NYSE) CEO Duncan Niederauer as Advisory Director.
Tera’s platform was approved by the US Commodity Futures Trading Commission (CFTC) last year, though the derivative products themselves have yet to be approved. More recently, it entered into a reverse merger agreement with MGT Capital that would take the company public, though the final terms of the agreement have since been delayed.
Niederauer will draw upon his international experience to offer the company strategic advice and insight on growth strategies, as well provide briefings on global financial trends.
Niederauer served as the NYSE’s CEO until September 2014. Previously, he was managing Director and co-head of the Equities Division Execution Services franchise at Goldman Sachs, where he served for 22 years.
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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.”
Niederauer praised Tera’s management and the company’s “strong product and sales pipeline.”
Earlier this year, the NYSE itself made its first foray into digital currency, becoming a prominent investor backing Coinbase’s then-record $75 million funding round.