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The world’s second largest stock exchange and provider of market-leading, transparent and innovative indexes, the NASDAQ, has recently announced its data dissemination relationship with Brave New Coin (BNC) and the addition of BNC’s Bitcoin and Ethereum Liquidity Indexes to its armament of 4,000 global indices – the Nasdaq Global Index Data Service (GIDC). Brave New Coin (BNC) is a research and analysis firm based in Auckland; it mainly focuses on blockchain firms and digital assets.
The NASDAQ, the leading benchmark provider for US technology equity trading and indexing, will offer two additional cryptocurrency market specific indexes that will send real-time Bitcoin and Ethereum price information on its platform of the GIDS. The indexes will come to effect on the NASDAQ on Monday, February 25, 2019.
These new indexes are called Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX). Each of them is designed to disseminate real-time prices of 1 BTC and 1 ETH respectively that too quoted in USD, to users that follow Nasdaq’s GIDS data feed. The provided single price points of 1 BTC and 1 ETH, which will change in frequency of every 30 seconds, will be based on the most liquid ends of their markets.
Moreover, the Bitcoin Liquid Index and the Ethereum Liquid Index are calculated using the precise code of conduct that makes sure the indices meet the standards specified by The International Organization of Securities Commissions (IOSCO). One of the most used Bitcoin indexes, the BLX index, is widely-referenced BTC indices among crypto traders and was calculated back in 2010 while the ELX has been calculated back in 2014.
The NASDAQ isn’t only popular in traditional equity and commodity market but it has earned a great reputation in the crypto world as well. The NASDAQ, which is known for its market-leading and transparent indices and its equity, options, and futures marketplaces, is now also providing trading and market surveillance technology to at least 7 cryptocurrency exchanges. With data dissemination relationship with Brave New Coin, the NASDAQ is taking a step forward to provide world-leading crypto indices services.