Fix Trading Community Creates Digital Currency Working Group

Fix Trading Community, a global industry trading body, has announced the creation of a digital currency and blockchain technology working group.

The non-profit organisation, which boasts some of the world's biggest banks as its members, is responsible for addressing business and regulatory issues impacting global multi-asset trading.

Fix's new group will be chaired by Sean Ristau, head of wealth management and derivatives at Raptor Trading Sytems; Ron Quaranta, CEO of Digital Currency Labs LLC; and Ryan Pierce, director and technology architect of engineering and execution at CME Group.

Ristau said in a statement:

"As digital currency and blockchain technology initiatives around the globe continue to grow, members are looking to the FIX Trading Community group for guidance. The formation of this working group is an important step in the process."

The new working group will seek to identify, analyse and define use cases and integration points for digital currency and distributed ledger technology across capital market requirements and recommend best practises for implementation and usage of the technology across financial markets.

The announcement comes months after, Coinbase integrated Fix's trading protocol – used by most major stock exchanges and investment banks – to its bitcoin exchange.