SIX has today launched new crypto reference rates and real-time crypto indices for financial institutions.
Major crypto assets, Bitcoin (BTC) and Ethereum (ETH), are covered by the indices which SIX claims will give a comprehensive snapshot of the market and its performance.
These new indices will also function as benchmarks for AsiaNext’s crypto derivatives trading platform and institutional investors worldwide.
The indices are built on a transparent rules-based methodology – sourcing data from multiple exchanges – enabling precise pricing, valuation and performance tracking which can be used to support analysis and decision making within the crypto market.
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.
“The introduction of these BTC and ETH Indices underlines our dedication to delivering sophisticated and well-tailored solutions for very specific use-cases, such as crypto derivatives trading,” said Christian Bahr, head of index services, financial information at SIX.
“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”.
Digital asset trading venue for institutional investors, AsiaNext, which was founded by SIX and SBI Digital Asset Holdings, seeks to provide institutions with a secure platform to execute their market strategies and trade confidently.
AsiaNext’s partnership with SIX bridges together the tradition financial industry and the crypto ecosystem, helping the crypto industry move towards more robust methodologies, fair and transparent valuation as well as product standardisation.
“We are pleased to partner with SIX for an industry benchmark for the crypto market that underscores our commitment to providing institutional clients with robust crypto derivatives trading including standardised performance evaluation and timely risk management to help them make more informed investment decisions and meet regulatory requirements,” said Sudeep Chatterjee, head of product at AsiaNext.
“The SIX Reference Rate Crypto and SIX Real-Time Crypto Indices are accessible for tracking and analysis through AsiaNext’s institutional crypto derivatives platform, as well as through the data feeds from SIX.”