In a press release shared with BTCManager on June 11, 2019, CryptoCompare has announced the launch of a new institutional grade pricing and data aggregation product in conjunction with Nasdaq.
The cryptocurrency aggregation platform says the new service will be hosted on Quandl, another alternative data service. The data aggregator becomes the latest addition to CryptoCompare’s expanding catalog of data sets and indices targeted at the digital currency space.
Cryptocurrency Pricing Product Goes Live
The new data aggregator called the “Nasdaq/CryptoCompare Aggregate Reference Prices” will allow big-money investors access to critical market data via a trusted source.
The pricing product will aggregate data from CryptoCompare’s cryptocurrency indices, providing real-time pricing data from markets with verifiable liquidity. Using information from a potentially-trusted source, institutional investors will be able to initiate robust risk management, trading strategies, and quantitative research for cryptocurrencies.
Nasdaq’s Quandl platform will host the cryptocurrency price aggregator. Quandl already runs a bundle of datasets and price indices for assets and commodities across multiple marketplaces.
Commenting on the importance of the new pricing product, Charles Hayter, the CryptoCompare CEO, declared:
“We are delighted to partner with Nasdaq on a joint Aggregate Crypto Reference Prices product. Reliable data is the bedrock of transparent, liquid markets and by bringing our high quality, granular dataset to a global institutional client base, via the Quandl platform, we will give traders and investors a competitive edge.”
Nasdaq Keen on Regularizing the Crypto Data Space
This partnership with CryptoCompare once again reinforces Nasdaq’s commitment to ensuring the emergence of trusted data in the developing cryptocurrency space.
The second-largest stock exchange in the world has contributed to developing several institutional-grade trading indices for the market. Back in May 2019, Nasdaq announced that it would offer an XRP liquidity index provided by Brave New Coin (BNC)on its Global Index ServiceSM (GIDS).
As previously reported by BTCManager, Nasdaq has partnered with CoinMarketCap to launch a couple of financial indices for benchmarking cryptocurrency data. Apart from indices, Nasdaq has also assisted exchanges in upscaling their security protocols to combat market manipulation.
Nasdaq also has plans to offer bitcoin futures trading sometime in 2019 according to reports from late 2018 and early 2019.