SIX has launched two indices to serve as benchmarks for AsiaNext’s crypto derivatives trading platform and institutional investors.
This will allow for precise pricing, valuation and performance tracking, the company says, enabling detailed analysis and informed decision making.
The SIX Reference Rate Crypto Indices and SIX Real-Time Crypto Indices cover bitcoin (BTC) and ethereum (ETH), providing a “comprehensive snapshot” of the market and its performances. The former provides the BTC and ETH benchmark price in USD on an hourly basis, while the latter publishes these prices each second.
Through a rules-based methodology and by sourcing data from multiple exchanges, SIX aims to improve clarity and consistency in the market.
AsiaNext, a digital asset trading venue for institutional investors, was founded by SIX and SBI Digital Asset Holding. It aims to provide a secure platform for institutions to execute their market strategies and trade digital assets.
Christian Bahr, head of index services for financial information at SIX, says: “The introduction of these BTC and ETH Indices underline our dedication to delivering sophisticated and well-tailored solutions for very specific use-cases, such as crypto derivatives trading.
“I am confident that these benchmarks will serve as an indispensable tool for AsiaNext and foster the creation of an ecosystem between derivative exchanges and institutional investors".
Sudeep Chatterjee, head of product at AsiaNext, comments: "[The benchmarks] underscore our commitment to providing institutional clients with robust crypto derivatives trading including standardised performance evaluation and timely risk management to help them make more informed investment decisions and meet regulatory requirements.”
