The world's second-largest stock exchange, Nasdaq, and crypto data provider CryptoCompare have partnered to release a cryptocurrency pricing product targeted at institutional investors. The news was revealed in a press release shared with Cointelegraph on June 11.
The new product, dubbed the “Nasdaq/CryptoCompare Aggregate Crypto Reference Prices,” will be made available on the Nasdaq-owned platform Quandl — which reportedly provides financial and economic alternative datasets for over 400,000 financial professionals globally.
The new Nasdaq-CryptoCompare pricing product will be based on CryptoCompare’s aggregate index datasets, which provide ostensibly minute-by-minute pricing data from those cryptocurrency markets that have the highest liquidity.
The product aims to enhance institutional investors’ capabilities in the crypto markets, across “trading strategy, quantitative research, risk modelling, NAV calculations and back-testing,” the press release notes.
In an official statement, CryptoCompare CEO and co-founder Charles Hayter has argued that “reliable data is the bedrock of transparent, liquid markets,” and can offer global, institutional investors and traders a competitive edge in the crypto sector.
In late 2018, Nasdaq had ostensibly confirmed its plans to launch bitcoin futures in the first half of 2019, having deferred an earlier planned rollout.
In February 2019, Nasdaq started listing two cryptocurrency price indices from United States blockchain and crypto market data firm Brave New Coin (BNC), including BNC’s Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX).
Cryptocompare has meanwhile just this week partnered with major crypto derivatives platform BitMEX to jointly construct a real-time crypto futures dataset, which will be delivered to financial markets data provider Refinitiv.