Nasdaq, the world’s second-largest stock exchange, has partnered with CryptoCompate, a cryptocurrency data provider, to release a cryptocurrency pricing product targeted at institutional investors.
Jointly, they have worked on a product titled, “Nasdaq/CryptoCompare Aggregate Crypto Reference Prices,” which will be made available on the NASDAQ-owned platform, Qandl. Qandl reportedly provides financial and economic alternative datasets for over 400,000 financial professionals globally.
The Nasdaq-CryptoCompare pricing product will be based on CryptoCompare’s aggregate index datasets. The crypto data provider’s aggregate index datasets provide ostensible minute-by-minute pricing data from cryptocurrency markets having the highest liquidity.
According to the company’s press release on Tuesday, the product will enhance the capabilities of institutional investors in the crypto markets, across “trading strategy, quantitative research, risk modeling, NAV calculations, and back-testing.”
Charles Hayter, CryptoCompare’s CEO and co-founder – in an official statement – 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.
This falls in line with Nasdaq’s late 2018 plan to launch Bitcoin futures in the first half of 2019, after deferring an earlier planned rollout.
Nasdaq started listing two cryptocurrency prices from Brave New Coin, a U.S.-based blockchain and crypto market data firm – including BNC’s Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX).
This article was originally sourced from CoinTelegraph.