Nasdaq Launches Brave New Coin’s New Bitcoin And Ethereum Liquidity Indices
Nasdaq has recently announced that its Global Index Data ServiceSM (GIDS) will feature real-time Bitcoin and Ethereum index level information.
Just a week after announcing that they would add new indexes to its data suite of 4,000 indices, they launched Brave New Coin’s Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX).
The BNC Bitcoin Liquid Index (BLX) API determines a USD price point for one bitcoin at tick intervals of 30 seconds — calculated by extensive BNC-BLX methodology.
This API offers a live feed and support for fine granularity historic tick-data for bitcoin market trading, dating back to the beginning of trading on MtGox in early 2010.
The BNC Ethereum Liquid Index (ELX) API calculates a USD price point for one Ethereum at tick intervals of 30 seconds as calculated by the extensive BNC-ELX methodology. This API offers a live feed and support for fine granularity historic tick-data for bitcoin market trading, dating back to July 2015.
Brave New Coin CEO Fran Strajnar said:
“BNC’s ‘Liquid Index’ (LX) indices are part qualitative and part quantitative, factoring in the stability and quality of constituency as well as the volume, book depth, tick size and other factors from the qualified market participants, to calculate a fair global value for the price of Bitcoin and Ethereum, expressed in USD, every 30 seconds.”
He added: “The crypto derivative wave is inevitable. Once custody was solved, first with Fidelity’s announcements last November, and now with indices that align with IOSCO principles being available through the Nasdaq, there’s going to be a rush to produce all manner of financial instruments, which the institutional users have been asking for, for almost 3 years now.”