17 December 2020 12:34
(Cboe: CBOE), a market operator and global trading solutions provider, today announced it has signed an exclusive licensing agreement with CoinRoutes to disseminate its market data and create potential derived data and analytics products using its RealPrice data. The company's innovative RealPrice data feed is a trademarked and patent-pending consolidated Best-Bid-Offer (BBO) from all major cryptocurrency exchanges that incorporates the actual cost to trade specific quantities of a digital asset in real-time. Under the agreement, Cboe has exclusive rights to use CoinRoutes RealPrice data to create digital asset indices and to offer custom index creation and calculations to Cboe clients. Catherine Clay, Senior Vice President and Head of Information Solutions at Cboe Global Markets, said: "Cboe's agreement with CoinRoutes enables us to provide clients with cryptocurrency market data through Cboe's trusted and reliable Information Solutions' suite of data, analytics and index services. Together, we can help bring transparency to the asset class and its market models by using RealPrice data to potentially create indices and tools that help clients better understand cryptocurrencies and encourage their participation in a nascent market." Cboe plans to use CoinRoutes data to create digital asset indices, and to offer custom index creation and calculations to Cboe clients.
Cboe Information Solutions also plans to use real-time data dissemination of RealPrice data in portfolio construction tools, pre-trade and cost estimation tools, risk measurement analytics for lenders and historical data for back-testing. Bruce Traan, Head of Global Indices at Cboe Global Markets, said: "Market data is at the core of Cboe's index ideation and product innovation cycle, and strategic alliances with software technology firms like CoinRoutes have the potential to spark the next generation of index solutions – helping our clients make better-informed trading decisions. Post-trade and derivatives provider Torstone Technology has outlined plans to increase its company headcount by 30% in the next year after seeing increased demand for cloud services due to the market volatility. We plan to build on this success in the coming year to bring new products and solutions to our existing clients, as well as enter new markets," said Brian Collings, Torstone Technology chief executive. Exchange operator Cboe Global Markets has confirmed plans to create crypto indices early next year after signing a major licensing agreement with trading software provider CoinRoutes.
"We believe existing arbitrarily weighted indices that do not take into account the different fees or actual liquidity available on crypto exchange platforms do not represent the true cost of buying or selling a given cryptocurrency," said Michael Holstein, chief revenue officer, CoinRoutes.