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Boost for Bitcoin And Ethereum, Audited Nasdaq-Created Indices To Go Live In Feb 25

February 18, 2019

It is official, NASDAQ in collaboration with New Zealand based, Brave New Coin, will be effective from Feb 25, 2019, and will add Bitcoin and Ethereum indices to its Global Index Data ServiceSM (GIDS) - the world’s second-largest stock market operator by market cap has announced. It goes on to show the exchange’s drive not only in allowing investors and traders have a reliable reference rate for the price of 1 BTC and ETH but brings about order since the two indices–Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX), “are calculated using a methodology that has been independently audited against key IOSCO principles.” The BLX index is widely referenced and has been used by crypto-traders with price calculations dating back from 2010. On the other hand, ELX’s index price calculation dates back from 2014.

Why Nasdaq

Over time, NASDAQ has proven themselves to be reliable, transparent and innovative sources of market data. To put it in perspective, the stock operator has been relaying real-time market-related data since 1971 spanning geographies and asset classes. Notably, they have been successful in providing real-time index values for diverse families including NASDAQ Sharia, Commodity, Green Economy and even Nordic indices without fail. These index values are anchored on verifiable and audited values that help promote transparency as well as capital performance for all market participants including retail investors, managers, and institutions.

What Firms Need to Do for Access

Firms, funds or investors keen on gaining access to NASDAQ’s GIDS must first apply. To initiate the application and consequent submission of documents, firms must fill a Data Feed Request Form or a Nasdaq Global Data Agreement form for those interested in Nasdaq data service only or a System Application form if the data stream will be used in a system that is yet to receive prior approval from Nasdaq.

According to Nasdaq, streams will include data related to:

  • Intraday Net Asset Values
  • Settlement Values
  • Currency Spot values for select instruments
  • Daily security components data
  • Start-of-Day and End-of-Day summary data by asset class

Costs and Benefits

Benefits draw from subscribing include flexibility because access will be dependent on their consumption needs, data is real-time and the stock operator will deliver asset price’s start and close of day summaries. A GIDS Direct Access to Nasdaq’s indices draws a monthly fee of $2,000 per firm excluding vendor or telecommunication charges.

The story is sponsored by newconomy.

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