TrueDigital Follows Top Cryptocurrencies with Reference Rates and Indices

TrueDigital Holdings (TDH), a subsidiary ‎of swap execution facility trueEX, is launching pricing indices for Bitcoin and Ether, ‎building on the success of similar ‎benchmarks that leverage price data from a suite of crypto exchanges.‎

The new product provides institutional-grade resources and real-time ‎information for those trading in cryptocurrency markets through a ‎standardized reference rate and spot price index.‎

The launch of the new service, comprised of bid and offer pricing from top cryptocurrency market makers, signals growing commitment among the financial technology providers to the nascent space. It also comes ‎at the time when mainstream interest in Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term is ‎skyrocketing.‎

A recent Thomson Reuters study showed that 20 percent of 400 finance firms surveyed are considering getting into cryptocurrency trading within the next 12 months.

Several cryptocurrency exchanges and trading platforms will provide pricing data for TrueDigital’s benchmark, including Genesis Global Trading, XBTO Group, Circle, DV Chain, Hehmeyer, and Altonomy, with more exchanges to be added over time. The new product aggregates the trade flow of these exchanges during a specific calculation window into a reference rate of the US dollar price. Calculation rules are geared toward real-time replicability in underlying spot markets.

The release comes on the heel of the announcement from CME Group ‎about the launch of a daily price benchmark for ‎Ethereum, in partnership with cryptocurrency Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term ‎Crypto Facilities.‎

Commenting on the news, Ricky Li from Altonomy, said. "By sourcing institutional pricing data from all over the world, trueDigital is establishing the first global benchmark for these digital assets. Their rigor and focus on building institutional-grade indices should be a boon to regulators across countless jurisdictions."

"The approach that trueDigital has taken to establish institutional-quality benchmarks comes at a great time for the industry, delivering much-needed confidence to what remains a relatively young but important sector of the global financial marketplace," added David Nuelle of Hehmeyer.