Contributed by: Show Editorial Team
NASDAQ Vice Chairman says blockchain is the future of closing and sustainability should have reporting requirements
Sandy Frucher, Vice Chairman of NASDAQ interview with David Nelson at Sustainable Stock Exchange Initiative (NYSE)
- Disruptive technology in the area of clearing, Blockchain Technology is lower risk
- Regulation must be a 2-way street
- Sustainability should have reporting requirements
- NASDAQ was one of the initial signatures to the SSE
When a leader of NASDAQ speaks, it’s wise to pay attention. Especially when Meyer “Sandy” Frucher, the Vice Chairman of NASDAQ, makes three bold statements, as he did during a 2015 interview with David Nelson of the Traders Network Show.
Frucher said blockchain would be the next disrupting technology in clearing, quarterly reporting may be ineffective, and sustainability should have reporting requirements. Frucher was speaking at the UNCTAD U.N. Sustainable Stock Exchange event held at the New York Stock Exchange in 2015.
“The next innovation is going to be disrupting technology in the area of clearing, and it will probably be in blockchain technology. It has virtually instantaneously clearing, which would lower the risk in clearing, and [assure] the certainty of a trade, so I think that’s probably the next innovation that’s going to be happening,” Frucher said.
Meanwhile, Frucher said companies and exchanges should look at shifting reporting requirements to create more transparency.
“Places like Switzerland have annual reporting, recognizing that companies are required to release information pertaining to material events,” he said. “Quarterly reporting, in my personal view, has serious limitations and some very negative side effects, and you could take away that burden and direct it toward areas that would have more value to investors, such as sustainability reporting.”
(Written by Andrew Waite; Editing and revisions by Nicole Liddy)
Links: Original Article
PR and Media By: CommPro Worldwide