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:

“We are delighted to partner with Nasdaq on a joint Aggregate Crypto Reference Prices product. Reliable data is the bedrock of transparent, liquid markets and by bringing our high quality, granular dataset to a global institutional client base, via the Quandl platform, we will give traders and investors a competitive edge.”

Quandl 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.

Nasdaq image via Shutterstock

Disclaimer Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.