The New Partnership between Thomson Reuters and CryptoCompare

On 31 July, the cryptocurrency market data aggregator CryptoCompare and a Canadian media mass information company Thomson Reuters sign the cryptocurrency asset partnership.

The press release mentions that CryptoCompare will now offer the order book with trading data on 50 cryptocurrencies for Eikon, Reuters’ financial desktop company, aiming at institutional investors.

Adding our data to the @thomsonreuters Eikon platform will allow trading professionals & investors to gain a comprehensive view of the #cryptocurrencies market and of market participant behaviour https://t.co/t3VJUNBu3N — CryptoCompare (@CryptoCompare) July 31, 2018

Within the agreement, CryptoCompare is responsible to integrate the order book and trade data for 50 cryptocurrencies, derived from variant trusted exchanges, into Thomson Reuters Eikon, giving the institutional investors accurate reliable insights into the cryptocurrency asset market as a whole.

CryptoCompare, Thomson Reuters, and Eikon

CryptoCompare offers customers the real-time and accurate market pricing data on 200,000+ currency pairs and 5,000+ coins globally. It basically bridges the gap between the traditional financial markets and cryptocurrency assets.

This platform adheres to diligent standards to protect the data integrity, normalizing overall data sources. It ensures consistency and builds the confidence in the market. By integrating and analyzing the tick data, analysis and pricing from global datasets, CryptoCompare gives a comprehensive overview of the market with the tremendous fundamental value matrix.

Talking about the granular level, this platform produces cryptocurrency order book data, trade data, social data, and block explorer data.

Thomson Reuters Eikon is a strong intuitive future-generation solution to consume the real-time and historical data, analytics, news, and data visualization tools. This helps to enable the financial market transactions and links the community of market. It is an open platform, customizable which holds details of commodities, equities, derivatives, fixed income, foreign exchange, etc.

Reuters’ strategy director in innovation and blockchain, Sam Chadwick said in the press release:

“The decline in the price of several leading cryptocurrencies during 2018” has not reduced the “growing demand from our clients for pricing coverage of the huge names”.

He also said that they have a working relationship since 2016 between the two services. He believes that CryptoCompare had influenced the Thompson Reuters with their coverage of the cryptocurrency space.

Reuters had already been participating with cryptocurrency tracking via the separate deal with MarketPsych Data. Since June, the deal offered the data to track 100 cryptocurrencies in Reuters’ sentiment data pool.

With this recent partnership, Eikon users can now track data for actively trading cryptocurrency. The deal also allows viewing the comprehensive cryptocurrencies market and the participant behavior in the market. This feature enables the user to predict the price movements with an extensive degree of probability.

The CEO and founder of CryptoCompare, Charles Hayter said in the press release:

“As the digital asset markets mature, we see a fast-growing demand from the institutional investor community for comprehensive, real-time and global market data. Also it can be trusted as the basis for investment decisions”.

What do you think of this partnership? Is this a new level to trace the data in cryptocurrency space? Share your views via Twitter.

Image Source: Partnership