Crypto as One of Last 10 Years’ ‘Biggest Changes’ in Financial Markets: FT Emphasizes

The Financial Times (FT) is the world’s leading global business publication. It has prepared a report on global financial markets named “Exchanges, Trading and Clearing”. Two out of six sections are dedicated to cryptocurrency industry, in this report.

In the report, FT entitles cryptocurrency next to the phenomena like Brexit and the emergence of new markets as “some of the biggest changes” in financial markets over the last ten years.

As we know, there are two sections of cryptocurrency in the report, One of the articles is entitled “Crypto exchanges must face up to responsibilities as they mature”. It indicates a serious problem in crypto such as regulations. With that, it also gives a perception of crypto markets as compared to the traditional market. The article also includes the significant conflict between traditional markets experts and the disruptors in the crypto space.

While having a look at the second crypto-related article of FT’s report, it shows the details of how Chicago’s proprietary trading industry is “deepening its exposure to the wild crypto market,” with proprietary trading firms proclaiming that they are taking a “hard look” on crypto.

It also highlights that proprietary traders are generally “the highest-volume participants” on the markets. Additionally, FT authors affirm that the volatility is a “good thing” for those trading groups with an eye for the long term.

Amid this, chief executive of the U.K. division of Coinbase Zeeshan Feroz said that “crypto markets’ structure will “eventually mirror that of traditional markets”. Though, the opponent from the fiat trading industry, Peter Randall considered it “unlikely” to happen.

Randall stated that the current ecosystem of crypto markets is unlikely to deliver the “operational resilience” which is the need of “complex markets and financial systems”, marking the lack of liquidity on crypto markets.

Apart from that, Rob Sagurton, who is director of the digital asset direct trading at proprietary trading firm Jump Trading, has declared that the company is functioning crypto trading of around 10-15 “most liquid main cryptocurrencies,” at the same time focussing on futures markets.

With this, the Prime Minister of Malta, Joseph Muscat, stated that cryptocurrencies are the “inevitable future of money,” and that blockchain can be fuel for a more transparent and equitable society, at the general debate of the 73rd Session of the General Assembly of the U.N.

Seemingly, FT reports indicate an optimistic point of view for cryptocurrencies.