TrueDigital Expands Contributors to Its Crypto Price Indices
- TrueDigital’s product provides real-time information for cryptocurrency traders through a reference rate and price index.
TrueDigital Holdings (TDH), a subsidiary of swap execution facility trueEX, has partnered with three additional contributors to its OTC pricing indices for Bitcoin and Ether, building on the success of similar benchmarks that leverage price data from a suite of crypto exchanges.
TrueDigital’s product provides institutional-grade resources and real-time information for those trading in cryptocurrency markets through a standardized reference rate and spot price index.
CMT Digital, Blockfills, and QCP Capital join nine other cryptocurrency exchanges and trading platforms in providing pricing data for TrueDigital’s benchmark, including Genesis Global Trading, XBTO Group, Circle, DV Chain, Hehmeyer, and Altonomy, with more exchanges to be added over time.
The product aggregates the trade flow of these exchanges during a specific calculation window into a reference rate of the US dollar price. Calculation rules are geared toward real-time replicability in underlying spot markets.
Teaming up to lure Wall Street money
The service amassed more than 25 million price points, comprised of bid and offer pricing from top cryptocurrency market makers, which signals growing commitment among the financial technology providers to the nascent space.
The release comes on the heel of the announcement from CME Group about the launch of a daily price benchmark for Ethereum, in partnership with cryptocurrency Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term Crypto Facilities.
Commenting on the news, Nick Goodrich, director of business development at trueDigital “trueDigital is swiftly providing key infrastructure and products for broader institutional adoption of digital assets. This is evidenced by these new additions to our rapidly expanding OTC digital asset indices, as we continue capture a complete picture of digital asset markets and pricing. Our new partnerships illustrate the continued support in the marketplace for transparency and help to advance the opportunity for truly institutional products in the space,”
“CMT Digital welcomes an opportunity to contribute to trueDigital’s OTC reference rates. By allowing for better price discovery for Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and providing much needed transparency into digital assets, the trueDigital’s reference rates help facilitate the necessary trust required to stimulate growth in the industry,” added Brad Koeppen, head of crypto trading at CMT Digital.
TrueDigital Holdings (TDH), a subsidiary of swap execution facility trueEX, has partnered with three additional contributors to its OTC pricing indices for Bitcoin and Ether, building on the success of similar benchmarks that leverage price data from a suite of crypto exchanges.
TrueDigital’s product provides institutional-grade resources and real-time information for those trading in cryptocurrency markets through a standardized reference rate and spot price index.
CMT Digital, Blockfills, and QCP Capital join nine other cryptocurrency exchanges and trading platforms in providing pricing data for TrueDigital’s benchmark, including Genesis Global Trading, XBTO Group, Circle, DV Chain, Hehmeyer, and Altonomy, with more exchanges to be added over time.
The product aggregates the trade flow of these exchanges during a specific calculation window into a reference rate of the US dollar price. Calculation rules are geared toward real-time replicability in underlying spot markets.
Teaming up to lure Wall Street money
The service amassed more than 25 million price points, comprised of bid and offer pricing from top cryptocurrency market makers, which signals growing commitment among the financial technology providers to the nascent space.
The release comes on the heel of the announcement from CME Group about the launch of a daily price benchmark for Ethereum, in partnership with cryptocurrency Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term Crypto Facilities.
Commenting on the news, Nick Goodrich, director of business development at trueDigital “trueDigital is swiftly providing key infrastructure and products for broader institutional adoption of digital assets. This is evidenced by these new additions to our rapidly expanding OTC digital asset indices, as we continue capture a complete picture of digital asset markets and pricing. Our new partnerships illustrate the continued support in the marketplace for transparency and help to advance the opportunity for truly institutional products in the space,”
“CMT Digital welcomes an opportunity to contribute to trueDigital’s OTC reference rates. By allowing for better price discovery for Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and providing much needed transparency into digital assets, the trueDigital’s reference rates help facilitate the necessary trust required to stimulate growth in the industry,” added Brad Koeppen, head of crypto trading at CMT Digital.