Altcoin News: Nasdaq Will Create a Cryptocurrency Data Service for Institutional Investors

June 11, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

One of the major US crypto exchanges, Nasdaq announced the start of cooperation with the CryptoCompare portal, within which a new product will be developed to obtain information on cryptocurrency prices called the Nasdaq/CryptoCompare Aggregate Crypto Reference Prices.

The service will be available to users of the Quandl platform owned by Nasdaq, which allows receiving financial information in real time. It is assumed that with its help, institutional investors will monitor the behavior of the digital asset market and will be able to make strategic decisions based on the data obtained.

“The Nasdaq/CryptoCompare Aggregate Crypto Reference Prices will enhance institutional capabilities in the cryptocurrency markets across trading strategy, quantitative research, risk modelling, NAV calculations and back-testing. Based on CryptoCompare’s aggregate index datasets, the product will provide minute-by-minute pricing data for the most liquid cryptocurrency markets.” writes CryptoCompare. “We are delighted to partner with Nasdaq on a joint Aggregate Crypto Reference Prices product. Reliable data is the bedrock of transparent, liquid markets and by bringing our high quality, granular dataset to a global institutional client base, via the Quandl platform, we will give traders and investors a competitive edge,” said CryptoCompare CEO Charles Hayter.

In April, Nasdaq added the XRP cryptocurrency index, created by Brave New Coin, to its own global data service.