The Winklevoss twins have hired Nasdaq to monitor its cryptocurrencies trading venue, marking the US-based exchange operator’s first such surveillance deal in the sector.
Under the arrangement, the Gemini Trust Company — the company run by twins Cameron and Tyler Winklevoss — will use Nasdaq’s SMARTS Market Surveillance Technology related to the trading of bitcoin, ether and the auction settlement process for Cboe Global Market’s bitcoin futures contract.
The cryptocurrencies market overall has been plagued by manipulation attempts and has increasingly found itself in the crosshairs of regulators.
Separately, Nasdaq reported a 15 per cent increase in first quarter net revenues from the year ago period to $666m. Net income was $177m, or $1.05 per share, compared to $168m and 99 cents per share. The exchange beat on top-line results, but trailed analysts' forecasts on the EPS, according to Bloomberg.
The first three months of the year marked a return of volatility to financial markets after a historic period of clam had weighed on all types of business that rely on trading.
Nasdaq said its market services business delivered record quarterly net revenues of $250m, a 15 per cent jump from the prior year period thanks to rising trading volumes and results at its equity derivatives business after its purchase of options exchange ISE. The division is Nasdaq’s biggest and accounted for 38 per cent of total group net revenue during the quarter.
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