A Nasdaq-owned financial data platform for institutional investors is adding cryptocurrency reference prices.
Nasdaq's Quandl platform will source its price information from cryptocurrency price and indices provider CryptoCompare. Based on CryptoCompare’s aggregate index datasets, the product will provide up-to-date pricing data for the "most liquid" cryptocurrency markets, according to a press release published Tuesday.
Nasdaq and CryptoCompare have agreed a strategic partnership for the new service, called the Nasdaq/CryptoCompare Aggregate Crypto Reference Prices.
Charles Hayter, CryptoCompare's co-founder and CEO, said:
provides institutional investors such as hedge funds, asset managers and investment banks with financial, economic and other datasets.
The new data product will enable institutional investors to monitor crypto assets and gauge investment opportunities using a "trusted data source," according to the release. The reference prices will, it added, boost institutional capabilities in the cryptocurrency markets across trading strategy, quantitative research, risk modelling, NAV calculations and back-testing.
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