2018-10-10 21:49 |
Gemini Exchange Brings in Wall Street Executive to Entice New Institutional Clients
The New York-licensed Gemini Exchange has recently decided to add a new member to their staff. Jeanine Hightower-Sellitto, who used to work on Wall Street as the Chief Operating Officer at the International Securities Exchange (ISE), will be assigned the role of managing director of operations.
During her time with Gemini, she’ll be “supervising Gemini's institutional on boarding and expanding client services team.” She has plenty of experience in the trading industry, considering her 13 years with ISE where she managed the transition to the NASDAQ in June 2016. Her efforts in her new role will make it possible to service asset managers and hedge funds that decide to trade on the exchange, while using her security experience to help with the evaluation of various types of trades on the platform.
In a press release, Cameron Winklevoss said,
“Jeanine's depth of knowledge and experience in the financial industry makes her a valuable asset to our organization and our customers.”
Hightower-Sellitto is the latest person to be assigned to an authority position with Gemini, and her background with Wall Street comes at the perfect time for Gemini’s efforts to involve institutional investors in their platform.
The company recently hired Robert Cornish in July as the first chief technology officer. When Cornish was with the New York Stock Exchange, he worked as a chief information officer. His experience has made it possible for him to head up the technology team and strategy for Gemini, while still overseeing the market surveillance system for Nasdaq at the first.
Gemini recently acquired insurance coverage for their platform and digital assets, which is most likely a move to show investors that they are secure and reliable. Right now, the fiat currency involved with the exchange has been covered by the Federal Deposit Insurance Corporation to protect the funds. During this time, the exchange commented,
“Consumers are looking for the same levels of insured protection they're used to being afforded by traditional financial institutions.”
The Gemini Exchange was originally founded in 2014, and presently is in charge of about 1% of the trading market for cryptocurrency, based on information collected from CoinMarketCap. Historically, they’ve been cautious about their use of digital assets, only listing three available for trading. Still, they managed to be among the first exchanges to get involved with large block trades for institutional clients.
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