A New Era of Crypto Pricing for Institutional Investors

The worlds of traditional finance and cryptocurrencies are colliding again! Nasdaq, the second-largest stock exchange on the planet, has joined forces with crypto data provider CryptoCompare to unveil a cutting-edge cryptocurrency pricing product. This partnership, announced on June 11, aims right at the heart of institutional investors craving reliable pricing data.

Introducing the Nasdaq/CryptoCompare Aggregate Crypto Reference Prices

The newly minted product is called the “Nasdaq/CryptoCompare Aggregate Crypto Reference Prices.” It will be available through Nasdaq’s Quandl platform, a service renowned for offering alternative datasets to financial pros around the globe—over 400,000 of them, to be exact. Nothing like a little competition, even if it’s driven by data!

All About the Numbers: What Makes It Special?

• Aggregate Index Data: The framework relies on CryptoCompare’s aggregated index datasets. Think of it as pulling the best ingredients from an all-you-can-eat buffet, resulting in nothing but the best pricing data.
• Minute-by-Minute Pricing: Seriously, they aren’t kidding about being on top of things; expect nearly real-time pricing from the most liquid cryptocurrency markets. It’s like the fast food of finance!
• Enhanced Capabilities: The product is engineered for enhancing institutional investors’ capabilities related to trading strategy, quantitative research, risk modeling, NAV calculations, and back-testing. Basically, it’s a toolbox fit for an investment ninja.

Quote of the Day

In the press release, CryptoCompare CEO and co-founder Charles Hayter said,

“Reliable data is the bedrock of transparent, liquid markets.”

It’s hard to argue with that—data is the oil that keeps the financial engine running smoothly.

The Background: Nasdaq’s Foray into Crypto

Flash back to late 2018, when Nasdaq was gearing up to launch bitcoin futures. They decided to hit the brakes on their initial rollout plans. Fast forward to February 2019, and Nasdaq began listing cryptocurrency price indices developed by Brave New Coin, including their Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX). It looks like Nasdaq is committed to staying ahead of the curve in the crypto world.

Recent Partnerships: A Wave of Collaborations

It’s been a busy week in crypto partnerships! Just days ago, CryptoCompare announced a collaboration with the popular crypto derivatives platform BitMEX to create a real-time crypto futures dataset. This will then be sent off to financial market data provider Refinitiv. It’s almost like they’re opening a boutique for financial intelligence!