Financial information provider SIX has partnered with digital asset market data provider CryptoCompare, onboarding its cryptocurrency data onto its distribution channels.
This follows recent increases in digital asset regulation, such as ESMA’s Markets in Crypto-assets Regulation.
As a result of the partnership, SIX will be able to cover more than 85 per cent of cryptocurrency market activities worldwide, allowing for its clients to expand their digital asset activities.
CryptoCompare aggregates data from more than 300 venues, covering cryptocurrency reference and pricing data and fiat-based trading pairs. Its aggregate pricing methodology provides the best price estimation for cryptocurrency traders and investors, allowing them to value their portfolio at any time.
The methodology uses a 24-hour volume-weighted average calculation, time-penalty factor and outlier methodology, and will allow SIX to offer real-time and historical pricing data, order book and cryptocurrency derivatives data.
Berta Ares Lomban, head of digital assets financial information at SIX, says: “Through this collaboration with CryptoCompare, we are helping our customers navigate the digital assets markets. Our clients will be able to access the information they need to realise the opportunities and manage the risks in cryptocurrency markets, as well as comply with emerging regulations, through a trusted and reliable data partner.”
Charles Hayter, CEO and co-founder of CryptoCompare, comments: "CryptoCompare [will] work with SIX to provide its clients with high-quality and wide-ranging digital asset data, built upon our methodologies that safeguard data integrity. We look forward to advancing our relationship with SIX, assisting as the company explores new opportunities to meet the growing appetite of their clients for digital assets exposure.”
