Nasdaq’s new partnership with CryptoCompare introduces new crypto pricing service
|- CryptoCompare’s aggregate provides minute-by-minute pricing data using data from crypto exchanges.
- Reliable data will give institutional clients a competitive edge in the industry.
Nasdaq, one of the leading stock exchanges in the world has partnered with CryptoCompare, a cryptocurrency data provider. The collaboration will see both companies come up with a new crypto pricing product designed to cater to institutional traders.
The pricing product has been named the “Nasdaq/CryptoCompare Aggregate Crypto Reference Prices.” It will run on Nasdaq’s Qandl, a platform that offers financial and economic alternative datasets currently with more than 400,000 financial professionals around the world.
The pricing service will use the data from CryptoCompare’s aggregate index datasets. The aggregate provides minute-by-minute pricing data using data from crypto exchanges that command the highest liquidity. It will promote institutional investors' presence on the markets using “trading strategy, quantitative research, risk modeling, NAV calculations and back-testing.”
The CEO of CryptoCompare Charles Hayter said in an official statement that “reliable data is the bedrock of transparent, liquid markets.” This reliable data will give institutional clients a competitive edge in the industry.
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