The planet’s second-largest stock market, Nasdaq, and crypto data supplier CryptoCompare have partnered to launch a cryptocurrency pricing merchandise targeted at institutional investors. The information was revealed in a media launch shared with Cointelegraph on June 11.
The new solution, dubbed the”Nasdaq/CryptoCompare Aggregate Crypto Reference Costs,” will be made on the Nasdaq-owned stage Qandl — that allegedly provides financial and economical alternative datasets for over 400,000 financial professionals worldwide.
The brand new Nasdaq-CryptoCompare pricing merchandise is going to be predicated on CryptoCompare’s aggregate indicator datasets, which supply apparently minute-by-minute pricing information out of those cryptocurrency markets having the maximum liquidity.
The product aims to boost institutional investors’ capacities from the crypto markets, throughout”trading plan, quantitative study, hazard diversification, NAV calculations and back-testing,” the press release notes.
In an official announcement, CryptoCompare CEO and co-founder Charles Hayter has contended that”reliable information is the bedrock of crystalline, liquid markets,” and may provide worldwide, institutional traders and dealers that a competitive advantage from the crypto industry.
In late 2018, Nasdaq had apparently supported its plans to establish bitcoin stocks at the first half 2019, using postponed an earlier proposed rollout.
In February 2019, Nasdaq started record two cryptocurrency cost indices in United States blockchain and crypto market information company Brave New Coin (BNC), such as BNC’s Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX).
Cryptocompare has just this week partnered with significant crypto derivatives system BitMEX to collectively build a real time crypto futures dataset, which is delivered to financial markets information supplier Refinitiv.