Nasdaq Partners With Crypto Data provider CryptoCompare

Second largest stock exchange Nasdaq has partnered with cryptocurrency data and indices provider CryptoCompare to release a crypto pricing products called the Nasdaq/CryptoCompare Aggregate Crypto Reference Prices. The crypto data provider shared the press release on June 12.

As per the announcement, the product will be launched on Nasdaq’s data platform Quandl. The platform assists over 400,000 financial experts in domains like finance, economical and alternative datasets.

The latest pricing project developed jointly by Nasdaq and CryptoCompare will be powered entirely by CryptoCompare’s aggregate index datasets, which offers minute-by-minute pricing data “for the most liquid cryptocurrency markets,” according to the announcement shared.  

The press release added that the product envisions to aggrandize institutional investors ability in monitoring digital assets market by utilizing an authentic data source. The product plans on boosting markets spread across NAV calculations, quantitative research, risk modelling, trading strategy and back-testing.   

CryptoCompare’s co-Founder and CEO, Charles Hayter said –

“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.”

In February 2019, Nasdaq initiated the listing of two cryptocurrency price indices from US-based blockchain and crypto market firm Brave New Coin (BNC). The announced integration of Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX) opened up new data for clients using the exchange’s Global Index Data Service (GIDS).