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Stock Exchange Nasdaq Adds Another Cryptocurrency Index To Its Global Data Service

BFSI News

Stock_Exchange-Nasdaq-Adds-Another-Cryptocurrency-Index-To-Its-Global-Data-Service Stock Exchange Nasdaq Adds Another Cryptocurrency Index To Its Global Data ServiceNasdaq, an American stock exchange, has recently announced to add another Cryptocurrency index, the world’s third-largest Cryptocurrency, XRP, to global data service. The exchange made its announcement earlier this week, with its partnership with New Zealand-based Blockchain data and research firm Brave New Coin to provide real-time index information for XRP. According to the exchange’s announcement, the XRP Liquid Index (XRPLX) will offer a spot or reference rate for the price of XRP, quoted in U.S. dollars and “based on the most liquid ends of their markets.

In a statement, Brave New Coin stated that the XRPLX sources data from only the most liquid exchanges by volume and order-book depth. The company further added that current constituent exchanges for the XRPLX include Bitfinex, Bitstamp, Poloniex, and Kraken with Coinbase to be added in the next review. As part of the launch, Nasdaq also included that the new stream will be available on the Nasdaq Global Index Data ServiceSM (GIDS), its consolidated data feed. The index includes data going back to 2014 and is refreshed every five minutes. The index is calculated using a methodology that has been independently audited against the International Organisation of Securities Commissions (IOSCO) principles, the exchange added.

Earlier this year, Nasdaq partnered with Brave New Coin, when it added indices for Bitcoin (BTC) and Ether (ETH) to its global data service. The stock exchange is the second-largest stock exchange in the world by market capitalization, behind only the New York Stock Exchange located in the same city.