SIX and digital asset trading venue AsiaNext developed the real-time indices.
Market and reference data provider SIX has launched the SIX Reference Rate Crypto and SIX Real-Time Crypto Indices for financial institutions and digital asset trading venue AsiaNext and its crypto derivatives transaction platform, officials say.
“The SIX Reference Rate Crypto Indices are accessible for tracking and analysis through AsiaNext’s institutional crypto derivatives platform, as well as through the data feeds from SIX,” officials say.
The offerings “cover the major crypto assets Bitcoin (BTC) and Ethereum (ETH),” and are intended to provide a “comprehensive snapshot of the market and its performance,” according to SIX.
Using a rules-based methodology, the indices source data from multiple exchanges, officials say. The indices provide “pricing, valuation and performance tracking” that will support analysis and decision making for crypto markets participants, officials say.
“The SIX Reference Rate Crypto Indices provide the BTC and ETH benchmark price in USD on an hourly basis, while the BTC and ETH SIX Real-Time Indices will be published every second,” according to SIX.
The AsiaNext venue was founded by SIX and SBI Digital Asset Holdings for institutional investors and focuses on regulation and operates according to standards of corporate governance and internal controls across all its activities, SIX says.
“The partnership between AsiaNext and SIX … [provides] financial institutions with the governance, processes and tools they need to proactively measure and monitor the rapidly evolving and volatile crypto market,” officials say. Both parties hope the partnership moves the crypto industry toward “more robust methodologies, fair and transparent valuation as well as product standardization.”
“I am confident that these benchmarks will serve as an indispensable tool for AsiaNext and foster the creation of an ecosystem between derivative exchanges and institutional investors,” says Dr. Christian Bahr, head index services, financial information, SIX, in a prepared statement.
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