TMX Group, the operator of the Toronto Stock Exchange (TSX), has taken its first step toward investigating blockchain technology by appointing Anthony Di Iorio as its first chief digital officer.
One of the founders of the ambitious Ethereum project, Di Iorio’s appointment in January follows what he called months of collaboration with TSX that culminated in the creation of the new role.
Di Iorio said that he will now help TSX navigate a number of areas of FinTech innovation more broadly, with the goal of ensuring the exchange is "on top" of emerging tech.
The appointment comes at a time when a number of major global stock exchanges are taking similar measures. This includes Nasdaq, Deutsche Börse, the London Stock Exchange (LSE) and the Australian Securities Exchange (ASX), all of which have either made investments in startups or are exploring applications of the tech.
However, Di Iorio cautioned that despite his background in the technology, that TSX is not likely to launch any Nasdaq-style initiatives as of yet.
He told CoinDesk:
"We need to make sure we have a strategy that makes sense. Blockchain is one thing we’re looking at, [but] we want a whole technology approach, and blockchain will be one of those things."
Di Iorio indicated that he is currently considering how best to educate TMX Group employees about blockchain technology, and that any specific tests are subject to further discussion.
"We’re at strategic stages, with lots of planning. There’s no announced proof-of-concepts yet, but have some in the pipeline we’re considering," he said.
Toronto Stock Exchange image via Shutterstock