New Research Suggests The Race For ‘Real-Time Crypto Market Data’ Could Trigger The Next Big Battlefront
New Research Suggests That The Hunt For ‘Real-Time Market Data’ Could Trigger The Next Crypto Arms Race
As per an all new press-release issued by the folks over at IPC Systems, the market data firm will now be providing clients with cryptocurrency info. supplied by the Intercontinental Exchange (ICE). To be even more specific, IPC will be providing interested users with real-time data associated with Bitcoin (BTC), EOS and Litecoin (LTC) via the use of various cloud computing avenues.
In regards to this latest development, Mike Smith, IPC’s Director of Global Exchange Relations Management, stated that his firm’s new offering was not only novel but would allow institutional investors to gain a massive edge over their competitors within today’s burgeoning crypto market.
“Institutional investors rely on trading partners around the world, handling massive amounts of data, so they cannot afford to have connectivity or accuracy issues.”
Lastly, it should also be pointed out that IPC’s market data is updated “200 million times every day, or once every four milliseconds”. These numbers when compared to CMC’s (Coinmarketcap) figures are mind-boggling— especially when considering that CMC only updates its currency data once every 60 seconds.
Here’s Why ‘Real-Time Market Data’ Is Important For The Crypto Industry
- According to a report released by Bloomberg last year, a whole host of Wall Street entities such as banks and VC firms are constantly looking to position themselves in such a way that they can gain any type of advantage within the global equity industry— a space that is currently touted to be worth nearly $60bn.
- In a similar vein, a report issued by Tabb Group suggests that brokers risk losing a lot of money owing to “fractional delays in market data transmittance”.
- The above-mentioned report also claims that firms can lose anywhere close to $4M per millisecond if their “data feeds are 5 ms slower than their competitors”.
In rounding off this piece, it is worth adding that institutional investors have already begun to dominate the crypto market in a big way. As a result of this, it is now extremely important for moneyed players to procure data that is not only accurate but also delivered with an extremely high degree of timebound accuracy.
Last but not least, with the IPC adopting ICE’s cryptocurrency data feed, it now feels as though the crypto industry at large is gearing up for a much greater level of institutional involvement in the coming few months.